Richard Barrett group plans care home expansion while Belgian property group Aedifica is major player in Irish marketBartra founder Richard Barrett has sold a portfolio of four care homes for €161 million to a listed Belgian property group.Developer Richard Barrett has sold a portfolio of four care homes to listed Belgian property group, Aedifica in a €161 million deal.
Bartra will continue to run the homes under long-term leases which, Aedifica says, will yield an initial net rent yield of about 5 per cent. It will also operate another Aedifica site in Crumlin. At the time, Aedifica chief executive Stefaan Gielens said: “Ireland provides an attractive investment opportunity for Aedifica, since the care market is still very fragmented and the rapidly ageing population will lead to increasing demand for healthcare real estate.”
Bartra Healthcare chief executive Declan Carlyle said it was an “exciting and positive step” for the company.
This makes me so cross. The commodification of housing for every generation of Irish citizen by a small cohort of certain Irish developers, their cheerleaders & rapacious international funds, facilitated by misguided recent Government policies,directed by them, has to now stop.
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Issues around staffing at some nursing homes - HIQAHIQA has published 45 inspection reports on residential centres for older people in which it found that 15 centres were either fully or substantially compliant with regulations. Lets have an inquiry and write a report which promises this situation will be rectified and will never happen again or again or again.
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