Four Seasons Health Care Group puts 111 care homes up for sale

One of the biggest care home groups in the UK has put 111 of its care homes up for sale.

Four Seasons Health Care Group currently owns 131 care homes and is selling 111 of these in England, Scotland and Jersey. Four Seasons' care homes in Northern Ireland are being sold as part of a separate deal due to complete next month.

The care homes up for sale include both the Four Seasons Health Care Group and brighterkind brands, and between them care for over 6,000 residents.

The care homes up for sale mostly offer local authority funded places and the majority have over 40 spacious bedrooms, 80 per cent of which are en-suite. Christie & Co is handling the sale of the homes.

Joe O’Connor, interim chief executive of Four Seasons Health Care Group said: “Our priority remains the continuity of care for all residents, and the Group will work closely with Christie & Co, potential buyers, and other counterparties, as well as all relevant regulators, to ensure that the sales process and the transition of care homes to new ownership is seamless.”

A significant proportion of the homes for sale are purpose-built or have purpose-built extensions, with almost half offering the opportunity for expansion, subject to planning.

According to Four Seasons, the homes have ‘excellent relationships with a wide pool of different funding authorities. They demonstrate good income growth and recovery from COVID-19, with increasing occupancy levels and strong average fee uplifts’.

Of the homes up for sale, eight are in the South East, four in the South West, 11 in London, nine in the East of England, 15 in the East Midlands, six in the West Midlands, 12 in Yorkshire, 16 in the North East, 14 in the North West, 14 in Scotland, and two in the Channel Islands.

These homes comprise Four Seasons Health Care Group’s remaining freehold property portfolio and associated care home business.

Christie & Co expects the care homes to be of interest to a range of buyers, including corporate buyers and investors, regional groups, and SME operators all of whom are looking for growth opportunities via acquisition.

Four Seasons would like the new owners of these homes to have an ongoing commitment to the provision of high-quality care for residents, as continuity of care remains a priority for the Group.

The sale is being handled by Martin Gould and Michael Hodges at Christie & Co. They said: “We’re really proud to be part of this unique offering, one of the biggest of its kind, which comes at a time when there is significant investor and operator opportunity in the UK elderly care sector.

“The sale presents a chance for the new owner to work with the fantastic existing staff at Four Seasons Health Care Group and to invest and improve on these brilliant homes, all the while ensuring continuity of care. We are excited to be bringing this substantial group of assets to the market and anticipate strong interest from a wide range of prospective buyers.”

For more information, visit: https://project-oak-christie.com/