Middleton Hall Care Centre, Broxburn
Christie + Co has been instructed to market for sale Middleton Hall Care Centre in Broxburn, Scotland. Middleton Hall is a converted stately home with 55 bedrooms and views over its rural surroundings.
For further information, please contact Martin Daw on 0131 524 3406 or Kerr Young on 0131 557 6666.
Hg Capital's acquisition of Casa Reha
Christie + Co is proud to have formed part of Hg Capital’s advisory team in what was the largest and most important transaction in the German care market in 2007. Our task was to provide property due diligence including detailed benchmarking analysis of the portfolio and a review of the development programme. Another key part of our brief was the provision of detailed advice on the complex lease structures in place and their potential impact upon the cash flow of the business. Christie + Co’s input was instrumental in Hg Capital’s successful acquisition of the business, with it ultimately being addressed to the Royal Bank of Scotland plc, who provided the funding. Christie + Co are approved Panel Valuers to the Royal Bank of Scotland plc.
Highwood Residential Ltd
Christie + Co was instructed to dispose of two development sites on behalf of Highwood Residential Ltd, a building contractor and developer specialising in residential and healthcare developments. The investment interest was sold to a private investor, subject to new leases with Southern Cross PLC, for a price representing a net initial yield of approximately 5.7%. The investor will forward-fund the development of the two care homes, comprising 150 purpose-built beds, in Andover and Gosport.
Christie + Co is retained as valuers and performance monitoring advisors to HCREP, a consortium of highly regarded city property and investment executives, in the development of their care portfolio within Germany. Our work to date has included the provision of RICS compliant loan security valuations, portfolio analysis and the appraisal of new opportunities. Also in conjunction with Christie Corporate Finance, we have assisted in the introduction of further equity and debt providers. With ambitions to develop an integrated property operating and holding platform totalling in excess of 7500 beds over the next five years, Christie + Co are pleased to be associated with this dynamic investment company.
Four Seasons Healthcare
Christie + Co provided portfolio valuation advice to a prospective bidder during the 2006 sale process, which was eventually concluded with a purchase by Three Delta LLP. We continue to work with Four Seasons Healthcare and have advised on a number of prospective acquisitions undertaken by the group.
Quercus Healthcare Property Partnership
Christie + Co has been providing monthly valuations of this specialist investment fund since December 2004. The fund is currently made up of over 260 healthcare properties and is co-owned by Morley Fund Management and Quintain Estates & Development Plc.
Christie + Co has worked with Hallmark Healthcare, to facilitate a rapid expansion programme. As well as assisting Hallmark with the acquisition of a number of purpose-built homes, Christie + Co also provided valuation advice as part of a successful refinancing exercise, to fund the expansion. We continue to work with Hallmark to provide valuation advice.
Sale of Belmont Care Ltd to BUPA Care Services
Acting on behalf of the vendors, Christie + Co sold the entire share capital of Belmont Care Limited, including the freehold interest in its two nursing homes in Somerset, to BUPA Care Services. Elm View Nursing Home in Clevedon, Somerset, and Norewood Lodge in Portishead, Bristol, are both purpose-built elderly nursing homes with a combined registration of 94.
Sale of six care facilities to Quercus Property Partnership
Christie + Co has completed the sale of four limited companies – Parksman Ltd, Ozman Company Ltd, Samsons Atco Ltd and Samsons Green Ltd – and all of their freehold assets, to Quercus Healthcare Property Partnership Ltd. The portfolio includes six purpose-built care homes, comprising 327 registered bedrooms, located across Nottinghamshire, Cheshire and South Yorkshire. Quercus has subsequently identified one of its existing tenants, an experienced care operator, to take the lease on all six of the care facilities.
Sale of Aden House Ltd to New Century Care Ltd
Acting on behalf of the vendors, Christie + Co has sold the entire share capital of Aden House Limited to New Century Care Ltd. The group comprises a portfolio of quality, purpose built care homes located in Huddersfield, comprising five elderly care homes and one specialist unit catering for younger clients with physical disabilities. It is registered for a total of 231 residents including both nursing and personal care. This deal follows Christie + Co’s sale of Aaroncare to New Century Care.
Sale of Cannon Capital Group Holdings
Christie + Co sold the entire share capital of Cannon Capital Group Holdings, a company which holds the freehold interest in 91 care homes. The freehold care homes, which were let to Ashbourne Healthcare and total approximately 4,500 beds, were acquired by London & Regional Properties for £365.5 million. The deal was also the largest ever transacted by an agent in this sector.
Carrick Care Homes
Christie + Co was instructed to sell the entire share capital of Carrick Care Homes, Scotland’s largest independent care home provider with 12 high quality purpose-built homes in the greater Glasgow area, providing over 750 nursing beds in predominantly single en suite facilities. The group was “auctioned” off-market to trade and financial buyers, with the eventual purchaser, BUPA Care Homes, substantially outbidding all other parties.
Nuffield Health York
Nursing Home/Medical Services development site. Approximately 1.13 acre site, adjacent Nuffield Health York Hospital. If you wish to discuss further, please contact Jon Patrick on 0113 389 2700.