Rynda Healthcare expands investment in UK care sector
Pan-European real estate investor Rynda Healthcare has acquired a forward-funded investment with planning consent for a care home in Market Harborough pre-let to Care UK for an undisclosed price.
Frontier Estates achieved full planning permission for the 76-bedroom care home scheme with en suite wet rooms, a hair and beauty salon, café, activity rooms, cinema/library space and a range of lounge and dining rooms.
Rynda Healthcare invested in the project with a strategic partner, a Pan-European real estate investment house with €11 billion worth of assets under management.
Michael Walton, managing partner at Rynda Healthcare, said the company was looking to make further investments in the UK care sector.
“We are intent in building long term relationships with a range of selected developers and operators whose business growth we look to support for the long term,” he said.
David Gannon, head of acquisitions at Care UK comments, “Continuing our relationship with Frontier Estates, we are looking forward to the development and operation of this attractive new care home in Market Harborough. Our 125 existing homes have some of the highest CQC ratings in the sector for delivering high-quality care and we pride ourselves on being part of the communities where our homes are situated as well as creating new jobs for the local people too.”
Jordan Rundle, director of healthcare and investments at Christie & Co, who were joint agents with Gerald Eve, said: “With many traditional property sectors including retail and office markets going through structural changes, appetite for high-quality care home schemes is increasing, with investors attracted by strong fundamentals and underlying demographic trends. We are delighted to have worked with Frontier Estates, Rynda Healthcare and Care UK on this project and look forward to seeing the development take shape in the coming months.”