January 8, 2020 Property

Walton Healthcare Property Consultants sell 90 bed care home on behalf of administrators

Walton Healthcare Property Consultants have sold a 90 bedroom care home in Scotland on behalf of Adminstrators.
Walton HPC are pleased to advise that they have successfully disposed of Ballantine Court Care Home, on the outskirts of Larkhall, South Lanarkshire on behalf administrators Grant Thornton.
The home which was built in 2003, comprises 90 bedrooms all with wet room facilities and was purchased by Priory CC 20 Ltd off an asking price of £3M.
Gary Walton, Director, who handled the sale said ‘Given the quality of the asset and moderate price expectations, there was good interest in from a range of parties and the sale went to a closing date. Whilst the deal was agreed back in April 2019, the Care Inspectorate did take considerable time in registering the facility, this seems to be more common nowadays in Scotland, based on the number of transactions we have in solicitor’s hands awaiting registration in order to complete. It is important that vendors are aware of the potential timescales involved in selling care home businesses and should seek advice beforehand’.
Priory CC 20 Ltd propose to undertake significant refurbishment of the property and improve the fee fee profile as well as occupancy under their new ownership

www.waltonhpc.com

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