Five care homes offering 353 beds sold for over £100 million

Care home operator Hamberley Group has sold five of its 14 care homes for more than £100 million to real estate investment firm Rynda Healthcare but will immediately lease back three of the settings.

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The deal will see Hamberley’s operating company, Hamberley Care Homes, lease back three of its care homes under 35-year leaseback agreements and later lease back two other care homes which are currently under development in Eastleigh and Enfield.

Elstow Manor care home in Bedford, Verwood House care home in Dorset and Upton Manor care home in Poole are all part of the Hamberley Care Homes group and will continue to be operated by it.

Hamberley Care Homes plans to have a total of 28 homes by 2024, once it has completed the development of care homes in Cambridge, Dorking, Hindhead, Camberley, Basingstoke, Southampton, Bristol, Keynsham, Cofton Hackett and Edwalton.

The group is actively acquiring land and existing operating businesses and has over £170m of equity capital allocated for healthcare investment.

Daniel Kay, director of the Hamberley Group, said: “We’re delighted to have agreed this deal with the team at Rynda Healthcare. This agreement builds on our strong track record for developing and operating some of the UK’s leading luxury care homes.

"This sale will allow us to invest further in the elderly care market and ensure that we deliver care environments that are truly luxurious, safe and homely.

“The three existing homes in this deal are already much-loved services in each of their local communities and the new homes in Eastleigh and Enfield push our design standards yet further with the redevelopment of a 1920s police station and the integration of a leading-edge green energy heat network.”

Michael Walton, the chief executive of Rynda Healthcare said: “We are delighted to have closed this transaction adding to our portfolio of care homes in Edinburgh, Braintree, Derby and Market Harborough.

“Each home is centred around providing its residents with the very best care in state-of-the-art properties. Rynda continues to build long term relationships with a range of selected developers and operators whose business growth we look to support.”

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