Thu, 16 Mar 2023 | COMMERCIAL PROPERTY
A nursing and residential care home in the town of Newport, Shropshire has been put up for sale with a guide price of £1.95 million. The Rylands Nursing and Residential Care Home features 39 bedrooms and generated £1.6 million in turnover for the financial year to July 2022.
The property, which is being marketed for sale by specialist agent Christie & Co, is a converted, detached three-storey building dating to the 19th century. The building features two further extensions, a rear two-storey extension added by a previous owner in the 1990s and a two-storey side extension added by the current owners in 2007/08.
In addition to its 39 bedrooms, The Rylands also has two companion rooms. The ground floor features an open plan hallway, two residents’ lounges, a conservatory, two offices, a kitchen and dining areas, laundry room, bathrooms, separate toilets, sluice rooms, evacuation lift and a storage room, which has potential to be used as a hairdressers for residents.
14 of the care home’s rooms are located on the ground floor, with eight en-suite. A further 20 bedrooms (15 en-suite) are located on the 1st floor, while the remaining five (two en-suite) are on the 2nd floor. The 1st and 2nd floors also feature bathrooms and storage facilities, among other amenities. An area on the 1st floor also has potential to be adapted as a further en-suite bedroom, subject to compliance with building regulations.
In its listing for the property, Christie & Co describe the sale as “a good opportunity for an experienced operator or small regional group to add to its portfolio,” adding that the new owners could deliver substantial cost savings by running the home themselves, as the current owners operate it through a management team.
Christie & Co said: “The home has been operated with a management company overseeing all the care and business running with our clients, in an advisory role, due to other business commitments.”
The listing adds that the home had average occupancy of 83.9 per cent in the year to July 2022, with resident split 59 per cent funded and 41 per cent private. There is currently a full team of staff and registered manager in place operating the home.
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