News: Powell Williams advises LXi REIT plc on £28.5m acquisition of care home portfolio
LXI REIT plc has bought the freehold interest in five modern,
purpose-built care homes across Leicestershire and
Lincolnshire in a deal worth £28.5 million.
Phoenix Park Care
Village, North Lincolnshire
Powell Williams undertook technical due diligence surveys on all
five properties for LXi REIT and managed the input of all other
consultants involved on the instruction.
All properties were inspected with full reports issued within 7
working days from instruction
Jamie Beale, LXi REIT said:
"Without the input from Powell Williams and their speed of
response it is unlikely we would have met the timelines in
acquiring these properties."
The assets are fully let to Prime Life, which provides
specialist facilities and services for elderly care, high
dependency dementia and also for younger residents with learning
disabilities, mental illnesses and physical disabilities.
Currently, the leases are income-producing and have an unexpired
term of 31 years with no break, and are subject to yearly
upward-only reviews index-linked to the UK Retail Prices Index.
For further information contact Paul Scourfield or Adam