Radius Care completes $14.7m St Allisa acquisition

3rd June 2025 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

Radius Residential Care has completed its $14.7m acquisition of the assets and business of the St Allisa care home in Christchurch.

The acquisition of the assets from Arvida includes the onsale of the land and buildings to Warehouse Storage Limited and leaseback by Radius Care.

The property, which includes a large-scale care home comprising 109 care beds including hospital and dementia care, will be sold for $13.6m and leased back to Radius Care for an initial term of 30 years with two 10-year rights of renewal, with the balance of the acquisition price, $1.1m, funded from working capital.

“St Allisa is Radius Care’s 24th care home and further strengthens our presence in Christchurch,” Radius Care chief executive Andrew Peskett said.

“It’s a meaningful step in our capital-light growth strategy, reflecting our focus on expansion through the acquisition of large, well-located care homes.”

Radius Care operates 24 aged care facilities, of which it owns 12 and leases 12, with four of the owned facilities also including retirement villages.