Target Healthcare REIT invests in Yorkshire and Lancashire

THRL : Target Healthcare REIT invests in Yorkshire and Lancashire

Target Healthcare REIT has announced that it has bought three purpose built care homes located in Yorkshire and Lancashire for a total of £13.3m

The three homes are in Fleetwood, Lancashire (pictured); Rastrick, West Yorkshire; and Sutton-in-Craven, North Yorkshire. Between them they have a total of 201 rooms, offer residential and nursing care and have generously proportioned rooms with en-suite facilities throughout.  The homes all have large communal spaces and facilities such as hairdressing salons. The operator of the homes is Orchard Care Homes and they are leased to them for about 28 years on rents that equate to an initial yield over 7%. The rents will rise in line with the retail prices index, subject to a cap and collar.

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