Newcore Capital (Newcore) has expanded into a new social infrastructure sub-sector with the acquisition of a purpose-built primary healthcare facility in Headcorn near Maidstone, Kent.
The asset, located half a mile away from Headcorn Station, comprises 715m2 of space arranged over two floors. The majority of the space (80%) is leased to a GP Partnership, while the remainder (20%) is occupied by pharmacist Freshname. The site also benefits from 60m2 of consented expansion space.
Harry Savory, Chief Investment Officer at Newcore Capital, said: “Our purchase of Headcorn Surgery reflects the strong, demographically underpinned demand for primary healthcare facilities in the Southeast. The asset benefits from strong environmental credentials and from its close proximity to Headcorn station, and these factors, combined with its purpose-built nature and consented expansion, will provide further protection against obsolescence.”
Hugo Llewelyn, CEO at Newcore Capital, said: “Clinical healthcare has always been an area of focus for us but the opportunity to invest in GP surgeries, particularly those where we can work with doctors to future-proof their assets in line with the NHS 2040 Net Zero commitment, is exciting. There is perhaps an unusual window of opportunity for buying as traditional healthcare REITs are generally on the sidelines, being constrained by higher interest rates and continued share price-to-NAV discounts.”
Image provided by Monfort.
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