Impact Healthcare REIT saw pre-tax profits across the business boom by 189% from £16.9m to £48.8m in the year ended 31 December 2023, aided by a 14.5% increase in the value of its portfolio.
The group said the profit figure had been “flattered by revaluation movements”. The value of the group’s portfolio, which comprises 140 healthcare assets, increased from £568.8m to £651.3m over the period under review.
Strong rental growth, with inflation-linked agreements in all of the group’s leases helped drive up the value of the group’s investment properties.
Contracted rental income rose by 13.2% to £48.8m, while the weighted average unexpired lease term across Impact’s portfolio rose from 19.7 years to 20.8 years.
Chair Simon Laffin said: “As the economy recovers from 2023’s high inflation and interest rate rises and, as government begins to recognise the larger role that this sector can play in the health infrastructure, we believe that there will be opportunities for Impact.
He added: “We are well positioned to play a larger role in helping both residents and the NHS, whilst delivering long-term sustainable returns to shareholders.”
Image: Impact’s Corbrook Park
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