Impact Healthcare REIT PLC Acquisition (6702C)
June 19 2019 - 1:00AM
UK Regulatory
TIDMIHR
RNS Number : 6702C
Impact Healthcare REIT PLC
19 June 2019
19 June 2019
Impact Healthcare REIT plc
("Impact" or the "Company" or, together with its subsidiaries,
the "Group")
ACQUISITION
The Board of Directors of Impact Healthcare REIT plc (ticker:
IHR), the real estate investment trust which gives investors
exposure to a diversified portfolio of UK healthcare real estate
assets, in particular care homes, is pleased to announce that the
Group has acquired Birchlands Nursing Home for a net consideration
of GBP3.9 million. The initial rent will be GBP300,000.
Birchlands is a purpose-built nursing home located on the
outskirts of York with 51 bedrooms. It currently has 100% occupancy
and is rated Good by the CQC in its most recent published
inspection report.
The Group has agreed to appoint one of its existing tenants,
Welford, as the new tenant of Birchlands. The terms of the new
25-year full repairing and insuring lease with Welford for the home
are the same as the Group's existing leases with Welford. This is
the Group's third lease with Welford, which now operates four homes
with 174 beds for Impact.
The acquisition is in line with the Group's investment criteria
and returns profile.
The Group has agreed exclusivity on a number of further
acquisitions and continues to evaluate a strong pipeline of
potential investment opportunities and expects to announce further
acquisitions shortly.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Impact Health Partners LLP via Maitland/AMO
Mahesh Patel
Andrew Cowley
Winterflood Securities Limited Tel: 020 3100 0000
Joe Winkley
Neil Langford
Maitland/AMO (Communications Tel: 020 7379 5151
Adviser) Email: impacthealth-maitland@maitland.co.uk
James Benjamin
Andy Donald
The Company's LEI is 213800AX3FHPMJL4IJ53.
Further information on Impact Healthcare REIT is available at
www.impactreit.uk
NOTES:
Impact Healthcare REIT plc is a real estate investment trust
("REIT") which aims to provide shareholders with an attractive
return, principally in the form of quarterly income distributions
and with the potential for capital and income growth, through
exposure to a diversified portfolio of UK healthcare real estate
opportunities, in particular residential care homes. The Group's
investment policy is to acquire, renovate, extend and redevelop
high quality healthcare real estate assets in the UK and lease
those assets primarily to healthcare operators providing
residential healthcare services under full repairing and insuring
leases.
The Company's intention is to pay a target dividend of 6.17
pence per share for the year to 31 December 2019(1) .
The Company will seek to grow the target dividend in line with
the inflation-linked rental uplifts received by the Group under the
terms of the rent review provisions contained in the Group's leases
in the prior financial year.
The Group's Ordinary Shares were admitted to trading on the main
market of the London Stock Exchange, premium fund segment, on 8
February 2019.
(1) This is a target only and not a profit forecast. There can
be no assurance that the target will be met and it should not be
taken as an indicator of the Company's expected or actual
results.
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contact rns@lseg.com or visit www.rns.com.
END
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