Belgium-headquartered healthcare real estate investment trust Aedifica has invested approximately £13.5 million for a care home to be constructed in Biddenham in Bedfordshire to cater for 60 residents requiring continuous care, expected to complete in the first quarter of 2024.

The care home will be operated by the Maria Mallaband Care Group (MMCG) which provides residential and dementia care in more than 80 UK care homes. MMCG already operates 16 sites in Aedifica’s portfolio and will operate three additional properties upon completion of projects in Aylesbury, Market Drayton and Dawlish.

The care home will be let on the basis of a new irrevocable 30-year triple net lease and the initial net yield will amount to approximately 6%.

Aedifica’s chief executive Stefaan Gielens said: “We look forward to continuing to develop and invest in futureproof healthcare real estate with our local team.”

Bruce Walker, country manager of Aedifica UK, adding: “In the design of this new development project in Biddenham, special attention was paid to environmental standards and energy efficiency. We are pleased to deepen our successful ongoing relationship with MMCG, a longstanding tenant with a proven operating model that already operates 16 Aedifica properties. With Aylesbury Martin Dalby reaching completion, Dawlish under construction, and Market Drayton Great Hales going through planning, we are pleased to add Biddenham to the pipeline of new purpose-built properties which we are delivering with MMCG.”