Target Healthcare has also completed the acquisitions in Yorkshire and Wales. Additionally, construction of the care home development in Merseyside has reached the completion point.
Target Healthcare, a UK based care home investor, has recently acquired a Cheshire site, worth £9.7m, as it continues to spend the earnings from its latest oversubscribed capital raise. Target Healthcare has also completed the acquisitions in Yorkshire and Wales. Additionally, construction of the care home development in Merseyside has reached the completion point.
Completed Care Home to be let to L&M Healthcare
With the Cheshire acquisition, Target Healthcare has taken a forward funding agreement, which intends to develop a new elderly care home in Rudheath. The completed care home will be leased to a current tenant, L&M Healthcare, on a 30 year lease.
On this occasion, Head of Investment at Target Fund Managers, John Flannelly, commented, “We continue to identify and invest in modern and purpose-built care homes to expand our portfolio with the help of our exclusive research capabilities and expertise. We are constantly taking efforts to strengthen our ability to deliver lucrative returns for the shareholders.”
Property to Offer Full En-Suite Wetroom Facilities
The property will offer full en-suite wetroom facilities, corresponding to stringent investment criteria of Target Healthcare, along with large public spaces and high-quality equipment. The development is to be carried out based on a fixed-price contract with the developer, which is a sister company of L&M Healthcare.
“These transactions show our constant dedication to support the development of high-quality care homes all over the country, thereby strengthening our relations with the existing tenants while enabling us to support a new operator with recognized expertise in the care sector,” posited Flannelly.
Target Healthcare Leveraging Numerous Opportunities
Flannelly also added saying that Target Healthcare is working on various other opportunities that are likely to see the remaining capital being used in Q1 2020, depending on the terms being agreed and diligence effectively completed.