February 24, 2020 Property

Avison Young sells highly successful Wirral care home

 

Acting on behalf of Woodheath Care Ltd, Avison Young has secured the sale of a highly successful, partly purpose-built elderly care home to Princedale Care Ltd.

Woodheath Care Home provides personal and nursing care to the elderly in 61 registered bedrooms, 45 of which include en-suite facilities.

Woodheath Care Home will be operated by Princedale Care, which secured funding from Barclays to purchase the property.

Charlotte Brierley, Associate Director, Health at Avison Young, comments:
“This is our first independent healthcare deal of the year and I am very much looking forward to many more in 2020. After a tumultuous end to 2019 with the ever looming uncertainty over Brexit and the general election, we foresee independent healthcare deals being on the rise for 2020, as investor confidence returns. In a market where full en-suite wet room accommodation is idealised, Woodheath proves that an older, partly purpose-built property can thrive under the right management.”

The successful acquisition of Woodheath represents Princedale Care’s first acquisition under a newly formed family-owned company, whose directors have extensive experience within the care home sector, having previously owned a group of three care homes.

Ellie Hill, Director of Princedale Care, comments:
“We are hugely excited about Princedale Care’s first acquisition. Woodheath Care Home is a leading care home for the elderly within The Wirral. The existing owners have championed excellent quality care over their last 30 years of ownership. We look forward to working with the existing staff team to ensure that the same level of outstanding care is delivered to current and future residents of Woodheath.”

Avison Young’s expert multidisciplinary health team provides crucial support for clients in valuing, buying, selling and developing real estate in public, private and primary care. Our understanding of healthcare property goes beyond real estate. We appreciate the complex social, financial and political dimensions of the sector, and work toward solutions that acknowledge those realities. The team’s wide range of skills allows for the flexibility to respond to each client’s unique set of circumstances.

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