Radius buys Clare House in Invercargill for $14.5m

Mon, 11 Oct 2021

Radius Residential Care said it has bought Clare House, an integrated care facility and retirement village in Waikiwi, Invercargill, for $14.5 million, a 3% discount to an independent valuation.The acquisition includes two adjoining residential properties at 71 and 83 Durham Street.Based on the pro-forma projected earnings from the Colliers valuation, the acquisition will immediately add $1.7m to earnings before interest, tax, depreciation and amortisation (ebitda) before the new accounting standard for leases, the company said.That earnings es...

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