A PORTFOLIO of nine care homes in Scotland has been acquired for nearly £50 million in the biggest deal seen in the sector for 15 years.

The properties, located throughout the country, have been purchased by Impact Healthcare REIT for £47.5m in a sale and leaseback agreement.

It has been hailed as a major vote of confidence in the care home sector amid the profound challenges caused by the coronavirus pandemic.

The portfolio was formerly owned by the family-run Holmes Care Group. The sale, brokered by Christie & Co, has allowed Shiraz and Indumati Lakhani to retire while paving the way for daughter Sharifa to continue running the business.

The homes are located across Glasgow, Stirlingshire, Renfrewshire, Aberdeen, West Lothian, Inverclyde, and Ayrshire.

Ms Lakhani said: “Providing excellent care to everyone who makes their home with us is our absolute priority. We are very pleased to have concluded this deal, which will allow us to continuously invest in our homes across Scotland whilst maintaining our proud tradition as a family-run business. This long-term arrangement will see us continue to operate all of the homes, and is great news for residents, their families and our team.”

Martin Daw, senior director at Christie & Co said: “This deal is the largest care home transaction to happen in Scotland in over 15 years. For the deal to be agreed and concluded during this very difficult time we find ourselves in goes to show the confidence in the Scottish care home sector and our client’s quality of operation.”