Eddisons seeks £2m for Welsh care homes

THE Manchester office of chartered surveyors Eddisons and healthcare agency Bespoke Care have been appointed to handle the sale of a residential care home portfolio in North Wales.

The three properties are located within the seaside resort of Rhos on Sea within Conwy county borough, between the coastal towns of Colwyn Bay and Llandudno.

Plays y Bryn, Plas Isaf and St Michaels provide care for a total of 66 residents. Occupancy levels regularly run close to capacity, producing fee income of around £60,000 per week. All the homes are registered with the Care and Social Services Inspectorate Wales (CSSIW) and are management operated.

The joint agents are inviting offers in the region of £2m for the portfolio as a whole, but may consider individual sales.

James Cole of Eddisons said: “This is a rare opportunity to purchase a care home portfolio that produces strong income streams and has a management structure already in place.

“It should appeal to existing care home operators looking to expand, or investors wanting to diversify their portfolio into this highly lucrative sector.”