Christie + Co markets East Midlands-based care home group

3 December 2008

Christie + Co has been appointed by administrators Grant Thornton to sell the freehold interest of four East Midlands-based elderly care homes, which are operated by the Park Group.

Offers are being invited for the four homes, which have in total 191 registered beds. Current projected turnover for the group stands at £2.96 million per annum with a projected Ebitda of circa £795,000.

The portfolio comprises the purpose-built, 54-bed Autumn Grange near Worksop, the 40-bed Park Lodge Care Home in Chesterfield, the 47-bed Parklands home in Newark, and the purpose-built, 50-bed Park Side home in Mansfield.

The care homes are available as a group or individually.

A former retail unit, with a two-bedroom flat above and warehouse to the rear, which is situated next door to the Park Lodge property, is also included as part of the disposal.

Guy Bosanko said: “This is an ideal opportunity for an experienced operator to acquire an established care home business comprising four units, which are well run and geographically close.”

—Ends—

For further information on this press release, please contact: Mark Wingett at Christie + Co. Tel: 020 7227 0794. mark.wingett@christie.com