First time buyers fuel demand in Scotland

Posted on April 1st, by editor in Caring Times. No Comments

With the press having reported on the unprecedented corporate activity in Scotland, we have also seen a number of first time buyers entering the sector. Gary Walton, associate director at Christie + Co’s Glasgow office says this is because Scotland is seen as an ideal location to buy a care business, as values have historically been lower than other parts of the UK. “It has been perceived within the market place that homes with less than 30 beds are uneconomic,” sai Mr Walton. “This is clearly not the case – while profit margins are lower than larger care homes, in relation to hotels, pubs, and retail businesses of a similar size, care homes offer better returns. “This raft of activity demonstrates that homes with less than 30 beds are still high in demand; even more so if they show a good set of accounts and are in walk-in condition. This makes obtaining finance for first time buyers a lot easier.”

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