NHP doubles profit figures

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

NHP plc, the UK’s only listed property investment group specialising in the purchase and leaseback of modern ,purpose-built care homes, has announced a pre-tax profit of £8.81 million for the six months ending 31 March 1999 – a 215% increase on the same period last year. In June this year the group’s investment in care home properties amounted to £482.42 million (including acquisition costs) and comprised 266 care homes, with a total of 13,834 beds, leased to 24 tenants. The aggregate contracted minimum annual rent on the current portfolio is £51.67 million. The average occupancy rate of the group’s mature care homes in March is quoted as 89% with average weekly fees per bed of £329. NHP chairman Sir Martin Laing said the group continued to experience a strong demand for the specialist form of finance it provided and had agreed, subject to contract and valuation, to purchase and leaseback transactions, with new and existing tenants, with an aggregate value of about £150 million. “In addition, the group i

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