Specialist care provider Voyage Care has acquired Focused Healthcare Ltd (FHL), which provides care services to children and young people with complex, acute and chronic illnesses. Based in London, FHL was set up in 2009 by paediatric nurse Nicki Nicholls who will continue to manage day-to-day operations at FHL as managing director.
FHL and Voyage Care provide complementary specialist care and support services, with FHL focusing on providing specialist care to children and Voyage Care predominantly supporting adults.
Major care home provider HC-One has, subject to regulatory approval, acquired 122 care homes from Bupa in a deal totalling about £300m.
Bupa will keep around 150 care homes and six Richmond Villages caring for more than 9,000 residents, with a further four care homes and two retirement villages under construction.
Bupa UK chief executive David Hynam said Pupa would remain one of the main providers of residential care in the UK, and a major investor in the sector.
“This move enables us to focus our investment to continue to provide high quality care for our residents, both now and in the future,” said Mr Hynam.
“This year, Bupa will invest more than £120m into refurbishing existing homes and building new care homes and retirement villages.
“Bupa and HC-One have a shared commitment to excellence in care. We will work together over the coming months … Read More »
Caring Times, July/August 2017
According to the latest market update from Savills Healthcare, strong fundamentals combined with an ageing demographic in the UK has made healthcare, and in particular, care homes, a very attractive asset class. The international real estate advisor notes that the long indexed income with either RPI or fixed uplifts have made an appealing proposition for investors struggling to find similar opportunities in the mainstream markets. In addition, care home yields have moved in significantly over the last five years and now fall in line with many other traditional commercial asset classes. Savills Prime Care Home Yield Index currently stands at 4.25%, down from 4.75% in 2016.
These fundamentals are supported by strong demand for good quality care homes, fuelled by an increasing 75+ years population and an imbalance between the number of care homes opened and those closed … Read More »
Bridges Fund Management, a specialist sustainable and impact investor, has agreed the pre-sale of an 80-bed care home in Sidcup, Kent, to Ropemaker Properties, the property holding company of BP Pension Fund. Ropemaker has committed to acquire the site for £17.3m. For Bridges, this reflects a net initial yield of 4.5%. The sale is expected to complete in late 2018, once the construction phase is finished.
In 2015, Bridges bought a 3.1acre site adjacent to St Mary’s Hospital in Sidcup, investing from Bridges Property Alternatives Fund III. Working with specialist developer Castleoak, it has since been granted planning consent for a scheme comprising 80 care beds. The home has already been pre-let to operator Care UK on a 30-year term.
Bridges has been actively investing in the healthcare sector – and care homes in particular – since 2010, in line with its … Read More »
The nursing shortage in the UK is becoming more acute, according to a sector analysis report published by commercial property specialists Christie & Co.
The report, Adult Social Care 2017: Funding, Staffing & the Bed Blocking Challenge, surveyed every local authority, using Freedom of Information requests, and more than 200 leading operators across elderly and specialist care in the UK in order to understand the ongoing, as well as new issues, faced by the care sector. Following on from reports over the previous two years, latest figures show that there has been a 3% fall in total registered nursing numbers for 2016/17 with a 23% rise in de-registrations leading to 17,000 permanently unfilled nurse vacancies across the UK.
Following the Government’s decision to axe NHS bursaries for student nurses from 2017, applications by students in England to nursing and midwifery courses at … Read More »
Shropshire care group Adelphi Care Services, which provides services to adults with learning disabilities, autism and challenging behaviour, is to become part of The Regard Group, the UK’s fourth biggest care provider.
Nine specialist residential and supported living services will become part of Regard, which was formed in 1994, and now has a staff of more than 2,200 operating at 150 sites around the country. The organisation currently supports more than 1,100 people.
Specialist property agents Carterwood were instructed by Adelphi shareholders to seek a suitable buyer for the business and played an integral role in facilitating the acquisition by Regard, which comes at a time when it is already experiencing significant organic growth, having opened 12 new services within the past 12 months, with a further 12 new openings planned by mid-2018.
In the wake of Grenfell towerblock fire, in which about 80 people died, care homes review website carehome.co.uk has called on the Government to make it mandatory for all new build and converted care homes in England to have sprinkler systems.
In Scotland and Wales, all new and converted care homes have to have sprinkler systems. However in England, there is no such legislation.
Davina Ludlow, chair of carehome.co.uk, said the Grenfell Tower fire was an absolute tragedy which must serve as a wake-up call.
“As a sector, we support hundreds of thousands of vulnerable people,” said Mrs Ludlow.
“Many people in care homes have mobility, vision and hearing problems, with some of them bed-bound and evacuating them in the event of a fire is hugely challenging.
“This is why we want all new and converted care homes in England to have the same fire … Read More »
Glebelands, a 42-bed care home with nursing in Wokingham, Berkshire, has been acquired by not-for-profit provider Greensleeves Care, becoming the 21st member of the Greensleeves portfolio.
The sale of the home by the Cinema and Television Benevolent Fund (CTBF) is a key part of The CTBF’s change to its long-term strategy which involves a refocusing of its efforts to better support its members to meet their changing needs and lifestyles.
Housing and care provider Sanctuary Group has purchased 35 residential care homes and a supported living scheme from Embrace Group.
The homes are largely in Scotland and the North East, broadening Sanctuary’s geographical spread as the group’s 68 existing care homes are mostly in the Midlands and South. The purchase will bring the total number of bed spaces provided by Sanctuary Group to more than 5,300.
The 1,800 staff members in these homes will become part of Sanctuary Group which employs around 11,000 people at present.
Sanctuary’s Group chief executive David Bennett said the group’s existing portfolio had been assembled through a mixture of acquisition, development and self-build.
“As such, we have extensive experience of integrations of this nature,” said Mr Bennett.
“We believe that experience combined with a complete dedication to caring for older residents will ensure that these homes are seamlessly brought into … Read More »
According to the latest market update from Savills Healthcare, strong fundamentals combined with an ageing demographic in the UK has made healthcare, and in particular, care homes, a very attractive asset class.
The international real estate advisor notes that the long indexed income with either RPI or fixed uplifts have made an appealing proposition for investors struggling to find similar opportunities in the mainstream markets. In addition, care home yields have moved in significantly over the last five years and now fall in line with many other traditional commercial asset classes.
Savills healthcare team director Chris Wishart said the last 18 months had seen care homes achieve unprecedented yields with those let to annuity grade tenants and in excess of 30 years unexpired attracting interest of levels below 4%
“We expect this trend to continue with the care home market being put under … Read More »