Market is still buoyant for care homes in North East

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

By Julie Hewitt The care home market in the North East is still buoyant and Christie & Co’s Newcastle office has hit record sales during the year 2000, selling more than £3,000,000 worth of businesses. Examples of sales range from the smaller family-run homes such as The Albert residential home in Shotton Colliery, registered for 24, to St Andrews dual registered home in Stanley, registered for 45. Asking prices ranged from £200,000 to £1.3 million pounds. Although it is anticipated that a number of small, converted homes may struggle with the new National Minimum Standards, there are purchasers who are seeking to acquire low turnover businesses or closed homes at discounted prices to provide accommodation for a different category of client. Recent examples are Queensmead residential home in Stockton on Tees, which was purchased by Care UK and is now being converted for residents registered under the Mental Health Act, and Shildon Grange nursing home which is being converted to cater for physically disabl

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