CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
Grange Christchurch Hero banner Grange Christchurch mobile

Sale and Leaseback at Fairmile Grange, Christchurch Agreed

12/11/2019

Cushman & Wakefield has advised on the sale and leaseback of an 80-bed luxury care home for the Affordable Housing and Healthcare Group (AHH) to Target Healthcare REIT, for an undisclosed sum.

Opened in 2017, Fairmile Grange in Christchurch, Dorset is located in an area with supportive demographics for a care home and yet has a shortage of good quality competing stock. The home is located next to Christchurch Community Hospital, a GP surgery, Macmillan Specialist Palliative Care Unit and a pharmacy.

Under the terms of the new deal, the property has been leased on a 30-year term to a subsidiary of Encore Care Homes, which has operated the site since opening, with annual rent reviews linked to RPI. While Encore Care Homes operate several homes in south west and south east England, they will be a new tenant for Target Healthcare REIT.

The new owners, Target Healthcare REIT, is a specialist healthcare Real Estate Investment Trust who invests in modern, purpose-built homes that provide the best environments for residents and their care providers in areas that can support them at a sustainable rent. 

Mike Adams, Co-Chief Executive, Affordable Housing and Healthcare Group, said: “The sale of Fairmile Grange takes us a step closer to achieving our mission to provide viable solutions to the UK’s healthcare and housing crises, in partnership with NHS trusts and local authorities. The property forms part of a wider initiative to create vibrant, affordable communities centred around health and wellbeing for older people and key workers right across the borough – so the location within Christchurch Hospital’s grounds provides a perfect location.”


James Hanson, Head of Healthcare Transactions, Cushman & Wakefield, said:
“Fairmile Grange not only provides 80 much-needed registered care beds, but also beds that have been built to the exceptionally high standards that you would expect from this specialist operator. We are delighted to have acted for AHH in securing a market leading price, which demonstrates the very strong demand for well-let and sustainable long income healthcare real estate.”

The UK Cushman & Wakefield Healthcare Team is part of the Global Cushman & Wakefield Healthcare Division. The team has extensive experience in all market segments covering the Elderly Care, Retirement Living, Medical and Educational segments working with a wide range of domestic and international clients including operators, investors and developers.

MEDIA CONTACT

Lauren Joselyn Cushman & Wakefield
Lauren Joselyn

Associate Director, EMEA Communications • London

What's new

Top of glass office building exterior corner
Cushman & Wakefield Promotes David Gingell To Co-Head Of EMEA Equity, Debt & Structured Finance

Cushman & Wakefield has promoted David Gingell to Co-Head of its EMEA Equity, Debt & Structured Finance (ED&SF) team. 

Richard Coleman • 23/09/2024

Retail-Nederland
Cushman & Wakefield Bolsters Market-leading London Retail & Leisure Team

Global real estate advisors, Cushman & Wakefield has appointed Tors Hayward and Alice Vaughan as Associates within its Central London Retail & Leisure team. 

Richard Coleman • 20/09/2024

EMEA_LOGISTICS_AdobeStock_641468246.jpeg
Sustainable Warehouses Command 19% Price Premium Underlining ‘Flight To Quality’ In European Logistics Investment

Logistics real estate investors are willing to pay nearly a fifth more (19%) for European warehouses with high sustainability credentials (BREEAM Very Good or above) over assets rated below that benchmark, according to Cushman & Wakefield.

Richard Coleman • 12/09/2024

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS