CareTech raises £32m through ground rent agreement

CareTech positive over fee rises
Farouq Sheikh, CareTech’s executive chairman

CareTech has raised £32.6m through a ground rent agreement with Alpha Real Capital LLP.  Under the deal, the freehold of 24 CareTech properties will be transferred to Alpha in exchange for the money and security of tenure, which offers a 150-year lease term to the specialist care provider. Rent will begin at £1m per annum, which…

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