Acting on behalf of a major care firm, our Corporate Asset Services team has managed the disposal of several surplus care homes over the last 12 months, and concluded the sale of two more during the third quarter of 2017. Our client has undertaken a strategic review of its considerable portfolio, and our role is to dispose of the buildings that are non-compliant, or no longer fit for purpose. The proceeds generated are being recycled to improve other properties, and acquire new sites.
The two properties sold recently are located at each end of St Leonards-on-Sea, on the East Sussex coast. Clyde House comprised a 43 bedroom care home arranged over three storeys on a plot of almost an acre. We concluded a sale to a local private school at £1.5m. Leolyn care home comprised 32 bedrooms in an attractive 4 storey building of more than 12,000 sqft. The property was sold to a Registered Provider (Housing Association) at £1.3m for use as emergency residential accommodation.
Both properties benefitted from local and national marketing campaigns, the block viewings were well-attended, multiple offers were received and in both cases we exceeded our client's price expectations.
We are always seeking instructions to market similar freehold properties, please contact us if you have something alike.
Clyde House, 258 & 264 Sedlescombe Road North, St Leonards-on-Sea, East Sussex TN37 7JL
Leolyn Care Home, 63 Pevensey Road, St Leonards-on-Sea, East Sussex TN38 0LE
Clyde House: £1,500,000
Leolyn Care Home: £1,300,000
CLIENT: New Century Care