AXA takes to the stage with Knebworth buy

By James Buckley - Tuesday, October 17, 2017 11:10

AXA Investment Managers - Real Assets has completed the acquisition, on behalf of the UK Long Lease Property Fund, of Knebworth Care Home, Hertfordshire, for £15.75m from Abbey Healthcare.

The transaction has been structured as a sale and leaseback agreement on a long-term lease. The tenant is Care UK, one of the UK’s largest care home operators.

Completed in 2012, the property is a freehold, purpose built, high-specification care home comprising 69 rooms over three storeys, each providing separate care units with communal areas and balconies.

Located in Woolmer Green village on London Road, Knebworth Care Home offers lease length on a strong covenant with inflation linked income, providing a stable and resilient cashflow. This is underpinned by significant demographic changes in the UK driving increasing occupier demand in the sector.   

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