NHP buys 35 Highfield homes

Posted on June 1st, by editor in Caring Times. No Comments

NHP plc has acquired, through its subsidiaries, 35 care homes from Highfield Group Ltd for £76.5 million. Following the completion of the acquisition the care homes, which are mainly modern purpose-built facilities, will be immediately leased-back to Highfield for an initial annual rent of £6.75m for a period of 34 years, with two options in favour of the tenant to renew the leases for successive 34-year terms. NHP chief executive Richard Ellert said the acquisition represented a major addition to the company’s portfolio in the north of England and Scotland. “NHP now has 334 homes (comprising 17,416 beds, leased to 24 tenants) and is now the largest owner of care home beds in the UK,” Mr Ellert said. “We believe that Highfield is a high quality operator of care homes with whom we have worked successfully in the past. We look forward to continuing our association.” NHP has also given Highfield an option to sell a further seven care homes, comprising 226 beds, to NHP for £3.5m, exercisable by Highfield befor

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