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Eddisons To Handle Sale Of Care Home Portfolio

Written by: Richard Roe on Tuesday 22/07/2014

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The Manchester office of Chartered Surveyors Eddisons has been appointed to handle the disposal of a residential care home portfolio in North Wales. The  joint agent is Bespoke Care.

The three properties are located within the seaside resort of Rhos on Sea within Conwy county borough, between the larger costal towns of Colwyn Bay and Llandudno.

Plays y Bryn, Plas Isaf and St Michaels provide care for a total of 66 residents. Occupancy levels regularly run close to capacity, producing fee income of around £60,000 per week. All the homes are registered with the Care and Social Services Inspectorate Wales (CSSIW) and are management operated.

The joint agents are inviting offers in the region of £2,000,000 for the portfolio as a whole, but may consider individual sales.

James Cole of Eddisons said: ‘This is a rare opportunity to purchase a care home portfolio that produces strong income streams and has a management structure already in place.

‘It should appeal to existing care home operators looking to expand, or investors wanting to diversify their portfolio into this highly lucrative sector.’

For more information, please contact James Cole, james.cole@eddisons.com

Written by: Richard Roe on Tuesday 22/07/2014

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About the author

Richard joined Eddisons in 2003 and has been the Managing Partner since 2012, a role that sees him lead the strategic direction and development of the business under the ownership of Begbies Traynor Group plc. Richard has been instrumental in the growth of the business which has seen turnover more than double since 2008.

In addition to his role as Managing Partner, Richard continues to play a vital role with key clients, particularly in the banking sector, where he is a trusted adviser to major high street clearing banks. Over the last eight years, Richard has been appointed LPA Receiver on many high profile properties and assists in the recovery of distressed loan portfolios.

Prior to joining Eddisons, Richard worked in the real estate division of a 'Big Four' firm where his notable assignments included the privatisation of Saudi Telecom for flotation on the New York Stock Exchange.

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