TSC Real Estate advises fund on the purchase of a care home in Saxony

TSC Real Estate has advised a Luxembourg-based fund on the purchase of a care home located in Saxony for a price of around EUR16 million.

The property is the Plauen care home located at Breitscheidstrasse 90, 08525 Plauen in the district of Vogtlandkreis.

The in-patient care home was completed in April 2020 and comprises a 5-storey building (basement, ground and three upper floors) with a U-shaped footprint. The facility has a total lettable area of around 6,620 sq m and the site area is approximately 7,500 sq m.

The property offers 130 care places, of which 122 are in single rooms and the remainder in double rooms.

The home occupies a central position within Plauen, within walking distance of a disabled access tram stop from which the town centre is just a 7 minute journey away. There is a supermarket, hairdresser and medical centre located in the immediate vicinity.

As part of the property acquisition, the company Volkssolidarität Stadtverband Chemnitz eV took over as operator, and is equipped to operate all types of residential and care facility in the property, in particular in-patient old-age care, day care and assisted living. The lease contract has a term of 25 years.