Impact Healthcare REIT has exchanged contracts to buy a care home in Bury St Edmunds, Suffolk, for £7.4m, reflecting a yield of 7.5%.
St Peters House has 62 single en suite bedrooms and will provide the REIT with an initial rent of £555,000. The purchase was funded from existing cash resources and debt facilities.
Impact Healthcare has appointed Welford Healthcare as the new tenant of St Peters House on a 25-year lease with annual upward-only rent reviews linked to RPI.
The firm has also completed its £47.5m acquisition of nine Holmes care homes announced at the beginning of March.
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