Christie & Co have been instructed by Four Seasons Health Care Group to sell a large portfolio of 111 freehold care homes located across England, Scotland, and Jersey.
The homes are currently operated under the Four Seasons Health Care Group and brighterkind brands.
In total, the portfolio consists of over 6,000 bedrooms. According to Christie & Co, a ‘significant proportion’ of the homes are either purpose-built or have purpose-built extensions, with almost half offering scope for expansion, subject to planning.
The homes concerned sit within the local authority/CCG funded market. Occupancy levels are high and increasing, with strong average fee uplifts reported. The portfolio represents Four Seasons’ remaining freehold property holdings and associated care home business. The provider's parent company entered insolvency in 2019. It currently employs over 10,000 staff across its homes.
In terms of location, the portfolio comprises: eight homes in the South East, four homes in the South West, 11 homes in London, nine homes in the East of England, 15 homes in the East Midlands, six homes in the West Midlands, 12 homes in Yorkshire, 16 homes in the North East, 14 homes in the North West, 14 homes in Scotland, and two homes in the Channel Islands.
Four Seasons interim CEO Joe O’Connor said: “Our priority remains the continuity of care for all residents, and the group will work closely with Christie & Co, potential buyers, and other counterparties, as well as all relevant regulators, to ensure that the sales process and the transition of care homes to new ownership is seamless.”
Martin Gould and Michael Hodges of Christie & Co added: “We’re really proud to be part of this unique offering, one of the biggest of its kind, which comes at a time when there is significant investor and operator opportunity in the UK elderly care sector.
“The sale presents a chance for the new owner to work with the fantastic existing staff at Four Seasons Health Care Group and to invest and improve on these brilliant homes, all the while ensuring continuity of care. We are excited to be bringing this substantial group of assets to the market and anticipate strong interest from a wide range of prospective buyers.”
