‘Business Outlook’: sales will remain strong in 2005
2004 proved to be a phenomenal year for care property transactions with both corporate and independent operators actively acquiring homes as rising fee levels helped boost confidence in the sector, said Christie & Co director Richard Lunn in the company1s annual Business Outlook report. Overall, Christie & Co1s index of care home values shows a 17.0 per cent rise during the year, a strong performance following on from 20031s impressive 18.8 per cent rise. All the company1s 14 UK offices outperformed their sales targets year-on-year as demand across all areas of the country for care businesses of all types outstripped available supply. “Judging by the number of deals that our care home negotiators already have in the pipeline, we can confidently predict that the number of care home sales will remain strong in 2005,” said Mr lunn who warned, however, that given the robust level of growth in values in the previous two years (2003/4), there was a distinct possibility that values in 2005 would begin to plateau.