Norwich care home bought by investment trust
PUBLISHED: 09:08 25 May 2018 | UPDATED: 09:08 25 May 2018
A care home near Norwich has been bought as part of an £8.3m deal.
Grenville Court Care Home, in Horsford, has been acquired by real estate investment trust Impact Healthcare from owner Alpha Care Management Services.
The 68-bed home was built in 1997 and was sold alongside another facility in Scotland. Its current owners are seeking to retire from the business.
Impact Healthcare’s board said it believed the homes made an attractive addition to its portfolio and added there was a management turnaround opportunity at Grenville with planning permission in place to add further beds once it was completed.
The company has agreed leases with Minster Care Group for the operation of the homes.
Grenville was rated inadequate at its last Care Quality Commission (CQC) in November.