Swiss Life Asset Managers UK, the UK arm of investor Swiss Life Asset Managers, has made its debut in the healthcare sector with the purchase of Norfolk House care home in Weybridge, Surrey.
The property was bought on behalf of one of its pan-European funds for £9.7m – a 5.8% net initial yield – and is the first of several planned investments.
Norfolk House is let to Care UK for a further 12 years and occupies a half-acre site in the town centre. Built in 1995 to hotel specification, the property provides 64 ensuite bedrooms, communal dining rooms and lounges, a garden and hairdresser.
