Mon, 24 May 2010 | BUSINESS SALE
Grant Thornton is attempting to find a buyer for a portfolio of 64 Southern Cross-owned care homes after one of its largest landlords entered administration.
Lloyd's Nursing Homes Group, which is owned by the Israeli investment firm Arazin, was placed into administration in April after failing due to cash-flow problems. Arazin purchased the care homes from Blackstone for £194 million in 2005.
Daniel Smith of Grant Thornton said: "We are currently considering our options for the portfolio of 64 properties...and have already been approached by a number of interested parties."
It was reported earlier on this month that shares in Southern Cross had dived to 55p, their lowest level in 18 months, after the group announced tumbling occupancy levels and increasing pre-tax losses.
Jamie Buchan, Southern Cross's chief executive, explained that local authorities are showing restraint on fees and placements of older people, in preparation for expected cuts in the next fiscal year by the Government. The local authorities fund a significant proportion of care home placements.
Southern Cross operates 752 homes with around 39,000 beds, and recently leapt ahead of BUPA as the biggest residential care provider for the elderly.
Opportunity to acquire an established mixed dental practice in Tyne and Wear, efficiently led by associates.
LEASEHOLD
Established for over 40 years with a turnover in excess of £500,000, the business enjoys limited competition locally. The sale includes the business assets and the lease of the premises will be assigned to the new owner.
Major landmark store, 100+ years established, occupying valuable trading position within this mid-Devon town, centrally positioned on Crediton high street, opposite Costa Coffee, close Tesco Express, with free restricted stay car parking immediately...
FREEHOLD
|
22
|
|
Aug
|
Animalcare acquires new research programme for horses and dogs | BUSINESS SALE
York-based Animalcare Group plc has expanded its pipeline of...
|
22
|
|
Aug
|
Coastal Dorset development site with planning permission comes to market | COMMERCIAL PROPERTY
A prime coastal development opportunity has been launched to...
|
22
|
|
Aug
|
UK Government takes control of Speciality Steel after insolvency | ADMINISTRATION
Speciality Steel UK (SSUK) has been taken over by the UK gov...
|
22
|
|
Aug
|
UK Government takes control of Speciality Steel after insolvency | ADMINISTRATION
Speciality Steel UK (SSUK) has been taken over by the UK gov...
|
22
|
|
Aug
|
Coastal Dorset development site with planning permission comes to market | COMMERCIAL PROPERTY
A prime coastal development opportunity has been launched to...
|
22
|
|
Aug
|
Animalcare acquires new research programme for horses and dogs | BUSINESS SALE
York-based Animalcare Group plc has expanded its pipeline of...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.