Secrets to a speedy sale

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

Care home sales often involve long and convoluted legal and financial processes, averaging between six and 12 months. Specialist property agents operating in the sector are increasingly proud of their ability to minimise the time taken from instruction to completion. GVA Grimley has reported the sale of St Giles nursing home in Birmingham as having taken just 39 days. The purpose built home generated a total of ten offers, from a mix of corporate and regional operators. The bid that was finally accepted was from Surrey based operator Restful Homes, which already operates 400 beds in Staffordshire. Bank of Ireland funded the purchase and fast tracked the application through credit committee to enable completion within a very tight timescale. Restful Homes managing director Tom Cawley said he was now looking to acquire and/or develop a further 250 bed spaces within the Midlands and South East. “St Giles fits well within my existing portfolio, being a purpose built 48 bed care home with 100 per cent ensuite bedr

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