Accretive asset recycling progressing

Target Healthcare REIT has acquired three operational care homes and one new development for a total of £45m, deploying more than half the proceeds of its recent nine-home portfolio disposal. The high-quality homes, let to a strong new but established tenant, have been acquired at an accretive blended net initial yield of more than 6%. With significant remaining available capital, and a strong pipeline of similarly attractive opportunities, we expect acquisitions, in combination with indexed rent reviews, to drive continuing earnings and DPS growth.