Assisted living portfolio sold in multi-million pound deal

Dina Parmar

A group of assisted living properties across Worcestershire and Gloucestershire have been sold in a multi-million pound deal.

Paul Wilcox and John Irwin from Irwin & Wilcox Support Services have sold 16 properties to Blackstone Capital Partners (BCP) Supported Housing for around £8m.

The properties are shared residential homes, including eight in Evesham and five in central Gloucester, along with properties in Pershore, Tewkesbury and Birmingham.

The sale marks the end of a successful journey for Wilcox and Irwin in the care sector after the duo originally set-up their own care providing business in 2007, known then as Inclusion Care, and acquired the properties to accommodate vulnerable adults and aid the business’ growth.

In 2011 when the business was turning over £14m from care homes ranging from Dorset to Durham,the pair sold the business to Sovereign Capital but retained ownership of the properties until now.

Wilcox said: “This deal concludes a thoroughly rewarding decade of hard work for myself and John.

“Inclusion Care was born out of the success I had while operations manager at a rival company where I managed to take their turnover from £300,000 in 2001 to £5m by 2005. I thought that if I can do this for a company, then why can’t I do this for myself?

“A lot of investment has gone into Inclusion Care and identifying suitable and affordable properties around the country, and this property sale has allowed us a healthy return on that investment.

“Both myself and John will now be taking our time on what business ventures to pursue next.”

The property purchasers, BCP, work with local authorities to identify housing needs for people who are able and are ready to live more independently in supported housing.

Dina Parmar, partner in the commercial property department at Band Hatton Button, advised one the sale.

She: “Assisted living accommodation is highly sought after, and despite Paul and John stepping away from the management of these properties, it’s really encouraging to know that the properties will continue to accommodate and make a positive difference to individuals that need it the most.

“I’ve assisted Paul and John with their property affairs throughout their journey of growth, and wish them all the best for the future.”

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