DTZ Investors has acquired two Ramsay private hospitals from LondonMetric for £59.1m in an off-market deal.
Oaklands Hospital in Salford and Duchy Hospital, Truro, are both situated close to major NHS facilities (Salford Royal Hospital and Royal Cornwall Hospital respectively) offering access to consultants and long-term patient demand.
Ramsay has invested in the buildings to support increasing patient demand with both comprising three operating theatres, full diagnostic and treatment capability across a range of medical specialisms.
They are leased to Ramsay’s UK operating business until 2037 and guaranteed by its Australian parent company. Rents are subject to fixed annual uplifts and both assets have potential for further expansion to support future operational growth.
Ben Haller, director at DTZ Investors, said: “We continue to focus capital toward our essential real estate strategies where the long term demographic trends support sustainable income and income growth. These private hospitals add diversification to our portfolios and are underwritten by limited local competition with robust demand to support an already successful and leading private hospital provider.”
DTZ Investors was advised by Cushman & Wakefield and CBRE acted for LondonMetric.
