Care homes operator NHP has instructed GVA to sell 33 of its properties to raise capital to take over a number of Southern Cross operations.
The 33 properties being marketed are leased by Care Management Group and the portfolio is valued at £22m, with an initial yield of 9%. Annual rental uplift is fixed at 2.5%.
GVA said it was actively marketing 24 of the learning difficulty units, and would look at the remaining nine in due course.
The marketing of the properties comes shortly after NHP, the largest landlord to struggling care homes operator Southern Cross, announced it was to partner Court Cavendish to set up a new company to take control of 249 of the Southern Cross homes that it owns.
joanna.bourke@estatesgazette.com
