Impact Healthcare positive over property investments

Impact Healthcare REIT plans to add more properties to its portfolio in the remaining months of the year having added six in the first half of 2018.

Its financial report for the first half showed a net asset value of 102.03p per share at 30 June 2018, an increase of 1.38p or 1.4% since 31 December 2017.

Its property portfolio was valued at £184.3m at the end of the period. Contracted annual rent of £14.5m rose by £2.6m or 22.1% since December, while pre-tax profit in the six-month period was £8.5m.

The trust had 63 homes at the end of June.

During the period Impact bought six care homes, with 367 beds, adding two additional tenants. It has also exchanged to buy a further home with 77 beds but has not yet completed.

In June it signed a £50m five-year loan facility with Metro Bank plc to help manage its capital structure and support the growth plans of its subsidiaries.

Rupert Barclay, Impact non-executive chairman, said: ‘The fundamentals of our market are strong, with growing demand for beds and limited supply.

‘Our strategy is also to identify new properties and tenants who will diversify our investment base and continue to deliver strong economies of scale, with efficient operations alongside a good quality of care.

‘We remain confident we will identify investments that, under our ownership, will provide value for money to our tenants’ customers and residents, while delivering attractive and stable returns to our investors.’