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THRL : Target Healthcare buys Hastings care home
Target Healthcare REIT is paying £8m to acquire an 80 bed care home in Hastings, East Sussex. The deal is planned for November 204 when the project will be complete. Target Healthcare REIT is buying the property in a 35 year sale and leaseback deal from Hastings Court limited. The initial yield is equivalent to 7% and the rent is subject to an RPI-linked uplift (subject to a cap and collar). The facility comes with 80 bedrooms, each with full en-suite bathrooms with wetroom showers. Target says “it is constructed to a high standard and includes many facilities such as a bar/bistro, cinema room and hairdressing salon. Public spaces benefit from balconies with views over Hastings to the sea, and there are large attractive outdoor spaces for residents to use.”