Aedifica continues its expansion with the completion of two specialist residential care centres in Uppsala and Heby in Sweden. The small-scale residential care centres are specifically tailored to suit the needs of disabled persons and accommodate six residents each. The buildings comprise six high-quality one-room apartments with a kitchen, a bedroom and a bathroom. The modern apartments are specifically designed to meet the needs of disabled persons and to improve their quality of life. The properties also include staff areas to accommodate 24/7 care services for the residents. The care centres are equipped with innovative technology that allows to control the apartments remotely in order to optimise and secure the quality of service and maintenance.
These specialist residential care centres are only a first step in the Group’s development in the Swedish market, as it is the intention to also add other types of care properties to the portfolio, like children daycare centres and elderly care homes. LSS-boende Gramunke is operated by Center for Vard och Omsorg i Uppsala AB, a private player that is part of the Team Olivia group. LSSboende Heby is operated by Alternatus I Sverige AB, a private player that is part of the Alternatus group. The sites are let on new irrevocable double net long leases. The yield on cost is approx. 6.5-7%.
Stefaan Gielens, CEO of Aedifica, commented: “The Aedifica group has set foot in Sweden following the completion of two brand-new specialist residential care centres in Uppsala and Heby. We have invested approx. €4m (SEK39m) in the construction of both properties and have already lined up a development pipeline of several new projects, some of which will be completed later this year. Our Swedish pipeline currently includes specialist residential care centres and children day-care centres, but in the future also elderly care homes will be added. We are pleased with this important step forward in our European growth story and we look forward to further developing the Group’s activities in Northern Europe through Hoivatilat.”
