Holmes Care Group in £47.5m deal with Impact Healthcare REIT
Holmes Care Group has finalised a long-term partnership with Impact Healthcare REIT, in which nine of its properties in Scotland will be acquired by Impact Healthcare REIT and leased back to Holmes Care. This deal will see Impact provide a cash injection of £47.5m to Holmes Care Group, who will continue to operate all of the homes as before.
The agreement will allow Holmes Care Group to make substantial investments across its homes and services, enhancing the reach and quality of its already award-winning care across the country.
The properties have been bought in a sale and leaseback transaction, with a fixed 25-year lease, allowing the Group to continue to seamlessly provide the long-term, high-quality, enriching care and support for which it has routinely been recognised since it was founded in 1982.
Nines home will be boosted by deal
Sharifa Lakhani, Managing Director of Holmes Care Group, said: “Providing excellent care to everyone who makes their home with us is our absolute priority.
“We are very pleased to have concluded this deal, which will allow us to continuously invest in our homes across Scotland whilst maintaining our proud tradition as a family-run business.
“This long-term arrangement will see us continue to operate all of the homes, and is great news for residents, their families and our team.”
The nine homes involved in the agreement represent 649 beds at present, with two services located in Drumchapel, Glasgow, and the remaining seven located across Aberdeen, Wishaw, Banknock in Stirlingshire, Renfrew, Greenock, Armadale in West Lothian and Stevenston in Ayrshire.
All nine homes already hold high ratings from Scotland’s healthcare regulator, the Care Inspectorate, and will be boosted by this beneficial deal.
Holmes Care Group, which received the Top 20 Award by carehome.co.uk in 2017, is a family-run business and offers a range of services including residential, palliative, nursing and dementia care, as well as day services for the elderly and support for young people with disabilities.
In addition to continuing to operate the nine homes involved in this acquisition, Holmes Care Group will maintain ownership and operation of its four homes in England. In total, the Group provides care and support to over 800 people across both England and Scotland, employing over 1200 staff.