Private pay care market at ‘record’ levels, says Christie & Co
Specialist business property advisor Christie & Co advised on a record number of development opportunities focused on the private pay market during the first six months.
The property business reported significant investor appetite for quality, well traded healthcare assets let to mainstream tenants such as Care UK.
In its half year review of the care market, Christie & Co said investors were turning their attention to alternative markets such as healthcare where operational real estate plays a more significant role in the delivery of the business and is less likely to be undercut by online companies.
Nurse and care staff recruitment and local authority fees were highlighted as the main challenges facing the sector against a backdrop of rising wage levels.
Christie & Co provided brokerage or advisory services covering around 100,000 beds in the 12 months to June 2018.
Significant transactions in the first half of 2018 included the sale of 13 homes by New Century Care to Chesterfield based Hillcare.
At an operational level, Christie & Co said HC-One’s acquisition of 110 care homes from Bupa had been transformational in shaping the corporate marketplace (see Bupa transfers 110 care homes to HC-One).