Aviva buys care homes from Hadrian

Hadrian Healthcare has sold five care homes to Aviva Investors’ Lime Property Fund for more than £100m. It is a long income play for Aviva, which has signed a 35-year lease agreement with Anchor Hanover to operate the properties. It was previously operated by the seller. The portfolio, which consists of locations in Yorkshire and County Durham, has more than 380 en-suite rooms. The five homes are: The Manor House, Barnard Castle Wetherby Manor, Wetherby The Manor House, Knaresborough Oulton Manor, Leeds The Manor House, Harrogate Kris McPhail, fund manager at Aviva Investors, said: “This is key in ensuring that the Lime Property Fund is best-placed to provide investors with consistent, inflation-linked performance over the long term, in a sector which continues to demonstrate sound fundamentals.” The Lime Property Fund is a long income real estate fund with a net asset value of £2.3bn. It targets property investments that provide inflation-linked or fixed rental uplifts let to strong tenants on leases of more than 15 years. Savills advised Aviva Investors, while Knight Frank acted as selling agent. To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette