Richard Barrett led group buys third nursing home site

Dublin-based Bartra Capital Property Group has acquired a third site for the purpose of building a nursing home, it said on Thursday.

Led by former Treasury Holdings partner Richard Barrett, Bartra now plans to develop and operate a 221-bed nursing home facility on this almost 2½-acre site in Artane, north Dublin. The site includes full planning permission.

The greenfield location is the third to be acquired by Bartra this year. In June, it bought an 11 acre site in Loughshinny to develop a 123-bed nursing home after which it acquired a one-acre site in Santry on which it plans to build a 118-bed nursing home.

The company would not disclose from whom the sites were bought, at what price they were acquired, or how much they plan to put into the sites. However, Bartra says its homes will be modern and will “accommodate patients across the spectrum of residential healthcare needs”.

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The company's nursing home chief executive, Brian Keane, told The Irish Times its ambition was to be the "biggest operator of nursing homes in the country". It is understood that there acquisition drive will continue into the new year with a particular focus on greater Dublin.

Funding for the sites came from a combination of debt and existing capital.