Thu, 23 Feb 2023 | COMMERCIAL PROPERTY
A former care home in Cwmbran, Monmouthshire has been put up for sale with an asking price of £750,000 after the company that operated it fell into administration. The former Llanyravon Court Nursing Home was owned by Llanyrafon Court Limited, which entered liquidation in January 2023.
Joint liquidators Chris Stevens and Steve Baluchi of FRP Advisory have now engaged Christie & Co to market the home for sale. The freehold interest of the property, which has remained empty since it closed for trading in November 2022, is being sold on a closed basis with vacant possession and all fixtures, fittings and goodwill included.
The nursing home was originally constructed in the late 1980s and an additional extension was added in 2008. The property traded as a three-storey nursing home, featuring 50 bedrooms, 41 of which included en-suite WC facilities, and also has a rear enclosed garden.
The sale is described as an excellent opportunity for an existing care provider to expand their portfolio by reopening the property as a care home. According to Christie & Co, the 10 kilometres surrounding the property have an undersupply of compliant bed spaces, as well as a higher-than-average 65+ age demographic, meaning that demand would be high in the local community.
The sale process is being handled by Christie & Co Associate Director – Care Oliver McCarthy, who commented: "We're seeking unconditional offers for this large Cwmbran care home which would suit elderly care providers, specialist care providers, and also developers, subject to the necessary consents."
Read about M&A in the UK care sector.
One of the best ways to find properties below market price is to look at recent administrations.
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