Evolve Estates has acquired two private hospitals in Diss and Scunthorpe on behalf of Leathbond and LCP Securities for an undisclosed sum as it enters the private healthcare sector.
The company has acquired the 30,800 sq ft Meridian House private hospital in Scunthorpe and a private hospital with development opportunities in Diss through a sale and leaseback to Trent Cliffs Private Healthcare (TCPH).
TCPH is currently refurbishing the first floor of Meridian House to provide a high-quality care and rehabilitation facility, which will be sub-let to Revitalise Care. The company is also set to obtain planning permission for an additional floor spanning circa 15,000 sq ft to cater for NHS rehabilitation bed demand.
Evolve Estates will also manage St John’s House in Diss, which will be leased by TCPH and jointly operated by Revitalise Care, another TCPH company.
Dan O’Keefe (pictured), co-founder of Evolve Estates, said: “We are pleased to announce our entry into the private healthcare sector with the acquisition of these two exceptional private hospital facilities. This strategic move aligns perfectly with our vision and diversification of our portfolio alongside our keen investment opportunities in high-growth sectors.
“We have built our existing estate from a strong retail lead foundation, but as with any expanding business there is a need to ensure a balance across stimulating sectors. We look forward to continuing our expansion into alternative divisions, but most importantly working closely with the operators to ensure these facilities continue to serve the local community and surrounding areas.
“We’re confident that partnering with Trent Cliffs Private Healthcare will not only continue to deliver significant value for the property itself but will also contribute to the delivery of high-quality healthcare services in these communities. Many thanks to our in-house team, Andrew Cooper at Clarke Wilmott, and of course Jim Remfry at DTRE for acting for us on these exciting acquisitions.”
Arduino Chambers represented TCPH.
