Christie Group plc (CTG.L), has announced that its agency and advisory business, Christie & Co, has been instructed by the Four Seasons Health Care Group to sell a portfolio of 111 freehold care homes located across England, Scotland and Jersey, all trading under either Four Seasons Health Care or brighterkind.
This is the Four Seasons Health Care Group’s remaining freehold property portfolio and associated care home business, thus being a key milestone in the Group’s ongoing restructuring process.
Christie & Co expects the portfolio 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.
Speaking on behalf of the Four Seasons Health Care Group, Joe O’Connor, Interim CEO of the Group, comments, “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.”
The sale is being handled by Martin Gould and Michael Hodges at Christie & Co, who comment, “We’re really proud to be part of this unique opportunity, one of the biggest of its kind, which comes at a time when there is significant investor and operator interest in the UK elderly care sector.
“The sale presents a chance for the new owner to work with the fantastic existing staff at the 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.”