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19 Jun 2019 | 08:38

Impact Healthcare REIT acquires Birchlands Nursing Home for £3.9m

Impact Healthcare REIT acquired Birchlands Nursing Home for £3.9m. Birchlands, a purpose-built nursing home located on the outskirts of York with 51 bedrooms, currently had 100% occupancy and was rated Good by the CQC in its most recent published inspection report. Impact Healthcare REIT agreed to appoint one of its existing tenants, Welford, as the new tenant of Birchlands and the initial rent would be £0.3m. The terms of the new 25-year full repairing and insuring lease with Welford for the home were the same as the group's existing leases with Welford. The company said that it had agreed exclusivity on a number of further acquisitions and continued to evaluate a 'strong pipeline of potential investment opportunities and expects to announce further acquisitions shortly.'

At 8:38am: (LON:IHR) Impact Healthcare Reit Plc share price was -1.5p at 113.5p

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