Gold Care Homes completes £90m sale-and-leaseback

By Paul Norman - Wednesday, May 17, 2017 14:31

Gold Care Homes has completed on the sale and leaseback of 18 care homes for circa £90m to an overseas real estate investor.

Gold Care Homes was established in 1999 and has since grown to operate 21 care homes through development, mergers and acquisitions.

The homes are located throughout southern and central England, and focus on the private and public pay markets. The transaction involves 18 of the homes, located mainly in Southern England and Birmingham. The remaining homes will be operated outside the sale and leaseback agreement.

Peter Farnes, CBRE, said: “This latest transaction shows the continued appetite from international investors for UK healthcare assets and the elderly care market. This underscores the growing investor demand to grow and develop regional care businesses and benefit from index linked returns. The transaction provides Gold Care Homes with a secured source of capital for future developments and acquisitions.”

Paul Daniels, partner at Royds Withy King, said: “We worked closely with Gold Care Homes and their tax advisers to structure the deal and provide comprehensive pre-sale support, which included corporate and property advice. An important part of our work was advising the owners of Gold Care Homes on various regulations and compliance issues in relation to registering four new operating companies to run and administer the care homes.”

CBRE advised Gold Care Homes.

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