Community Healthcare

For more information on RM Community Healthcare Strategy, please contact:

James Satterthwaite
Head of Distribution

+44 (0) 131 603 7068
email James

James Robson
Chief Investment Officer

+44 (0) 131 603 7069
email James


Fund Summary

To acquire freeholds let to dental operators offering real estate ownership combined with high quality, long dated cashflows. This subsector of healthcare we believe is extremely hard for institutional investors to access and RM believes it offers attractive risk adjusted returns compared to other healthcare assets available in the public markets.

Introduction and overview

RM is acquiring freehold assets let to dental operators across the UK. 

Dental services are critical components of community healthcare with an excellent chain of covenant with diversified portfolios of private pay customers or NHS income.

There is a highly fragmented and granular market of over 12,500 dentists within the UK offering attractive room to grow the portfolio across a geographically wide area.

  • Strong rent cover and tenant covenants offer attractive risk adjusted returns.
  • Real asset backing offering protection against inflation via increased rents and property values.
  • Typically long leases offering secured, long dated income streams.

RM seek to offer investors high quality, long dated income streams combined with a granular freehold property portfolio.

Case studies:

Taunton: {my} orthodontist: part of {my dentist} – acquired April 2022. 

Let to Orthoworld 2000 on a new 10 year lease from Sept 2021. Low passing rent of £11.28 per square foot.

Ground rent income from 8 flats.

The accommodation forms a substantial part of a four storey building fronting The Crescent, with secondary
access via Upper High Street. The original listed building was extended in the 1980s and now provides
a mixture of residential flats and a dental surgery together with staff facilities.

Egremont, Cumbria: Bupa Dental Care 

Let to a subsidiary of BUPA for 15 years  since 2009, the lease is due to be renewed and it is expected that the rent will be re-negtiated higher and the lease extended.

  • low passing rent of under £10/sq foot
  • the only NHS dental practive within Egremont (source NHS website)
  • Top quality covenant
 

James Satterthwaite
Head of Distribution


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James Satterthwaite

James has been working at RM since 2010, and heads up the firms distribution function. Having significant experience in the fixed income and credit space, James is ideally suited to understand the needs of the income investor.

Previous to this James worked at Barclays Capital, serving institutional fixed income investors with access to primary and secondary market investment opportunities.

David Watts
Fund Distribution


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David Watts

David is responsible for introducing the RM Funds products to institutional investors with a focus on the IFA network. Previous to this, David has had extensive experience in working with the origination team to source high quality opportunities requiring debt funding so has a keen understanding of the debt investments within RM Secured. He has 4 years of Corporate Tax Experience with HMRC and 2 years of relationship management, currency and debt product experience with RM Capital. David holds a degree with honours in English Literature and Journalism.

Chris Howard
Fund Distribution


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Chris Howard

Chris is responsible for introducing the RM Funds products to institutional investors with a focus on regional wealth managers, fund of fund of funds and family offices.

 

Prior to joining RM Funds Chris has worked for a number of boutiques as well as global asset managers and brings a wealth of understanding of the UK wholesale space.

Christopher Lowe
Fund Distribution


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Christopher Lowe

Chris is responsible for introducing the RM Funds products to institutional investors with a focus on the regional IFA network. Previous to this, Chris has had extensive experience in working regional IFA’s and brings a wealth of understanding of the advisory network as he seeks to support customers with meeting their objectives.