Specialist healthcare property fund MedicX is to invest £6.6m in a care home in Stockport, Greater Manchester.
The property, called Cherry Tree House, will be a purpose-built 81-bed care home in the suburb of Romiley. The home will provide care to patients with dementia and other high-dependency needs.
MedicX will lease the property to London & Manchester Healthcare Ltd on a 35-year basis.
Tim Meggitt, chief operating officer of MedicX, said: “I am pleased to announce this latest addition to the MedicX Healthfund portfolio. The management team at London & Manchester are experienced operators and developers of quality care homes with local North West expertise, who have demonstrated a shared commitment to delivering best-in-class healthcare properties.”
sophia.furber@estatesgazette.com
