Country Court has sold a portfolio of three care homes for circa £50m.
The transaction includes the sale and leaseback of Hermitage House luxury care home in Kettering Thrapston (pictured), which opened in March last year and offers a cinema, pub and salon. Country Court has signed a 35-year lease to continue to operate the asset.
The transaction also includes the sale of two care home developments with planning consent in a forward funding structure. An unnamed fund has acquired a state-of-art care home in Chippenham and a care home in Lincoln, with Country Court retained as the long-term operator.
Country Court, which operates 47 care homes, has undertaken the portfolio sale to raise capital to support its continued expansion across the UK.
Al-Karim Kachra, CEO of Country Court, said: “The sale of these homes underlines the quality of our care home assets, which are designed to deliver best-in-class residential and specialist dementia care in a luxury environment. This is a significant milestone as we seek to unlock further capital to open more care homes and support more people across the UK.”
Joe Munro, from Knight Frank, which advised Country Court on the portfolio sale, added: “Country Court has an established reputation for excellent care provision in best-in-class facilities. We are proud to have supported the business in this landmark transaction to support its future growth.”
