Deals agreed for NI care homes

Deals worth almost £15m have been struck for three care homes in Northern Ireland.LXi REIT is behind the acquisitions, which include the freehold interest in two sites and the exchange of contracts to buy a third.Each of the properties included in the £14.9m deal is fully let or pre-let to companies within the Priory Group, a provider of mental health and elderly care services.The first two are located in Newtonabbey and Armagh, and comprise modern, purpose-built facilities for individuals with mental and/or physical disabilities. The former is a newly built site with 36 bedrooms, which opened in February 2017, while the latter – known as Armagh 2 – is made up of 30 bedrooms and opened in 2012.The third property will form an extension to the Armagh site and will comprise 34 bedrooms. It has been fully pre-let, detailed planning consent is in place and construction works have commenced. Practical completion is scheduled for Q1 2018.John White, partner at LXi REIT Advisors, said he was pleased to have completed the deal.