Secure Income REIT in £347m hospital sell-off

Secure Income REIT has sold eight of its 19 private hospitals for £347m to Medical Properties Trust.

The hospitals are let to Ramsay Health Care and have a current net rent payable of £16m per annum.

The assets sold to the US specialist healthcare REIT represent 31% of Ramsay hospitals owned by the company at their 31 December 2018 valuations.

The eight hospitals are Ashtead, Berkshire Independent, Euxton Hall, Mount Stuart, North Downs, Renacres, Rowley and Winfield.

Completion is scheduled for 16 August 2019.

Secure Income said the disposal would reduce the group’s net