Crewe care home changes hands as part of £56m deal
Impact Healthcare REIT has bought the 80-bedroom Corbrook Park Nursing Home from Morris Care.
The Crewe facility was one of six snapped up in a £56m portfolio transaction. The other five properties within the 438-bedroom portfolio, are located in Shropshire.
A total of 80% of the £56m sum will be paid in cash. Impact will fund the remaining 20% through an issue of new shares, according to a Stock Exchange filing.
The homes will continue to trade under the Morris Care brand for the next three years before the operational management team transfers to Welford Healthcare.
Welford now manages more than 1,000 care home bedrooms for Impact across the UK.
Impact’s other North West assets include a 27-asset portfolio featuring 1,113 bedrooms, which is operated by Croftwood Care.
Impact Healthcare REIT’s share price was 103.40p at the time of writing.
