Swiss Life Asset Managers has acquired Neem Tree Care Home in Greenford, west London, for £11.25m on behalf of its pan-European healthcare fund.
The acquisition reflects a 6.4% net initial yield and the property will be leased back to Neem Tree Care, which will continue to operate the care home on a 30-year lease.
Constructed in 2011, Neem Tree Care Home comprises 57 beds. As part of this investment, Swiss Life Asset Managers intends to install solar panels and implement further environmental upgrades to improve the building’s energy efficiency and sustainability.
The transaction marks the second UK acquisition on behalf of the pan-European healthcare fund, following the purchase of Norfolk House care home in Weybridge, Surrey, last year for £9.7m. This strategic addition aligns with Swiss Life Asset Managers’ commitment to environmentally responsible investments within the healthcare sector, driven by demographic trends and a critical need for high-quality care facilities.
Jos Seligman, investment director at Swiss Life Asset Managers UK, said: “Neem Tree Care Home provides strong occupational performance in a densely populated London suburb, where the demand for care home beds significantly outstrips supply. We are delighted to be working with the experienced management team, who will continue to provide care for the residents.”
Photo © Swiss Life Asset Managers
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