Sun, 31 Jul 2011 | DIVISION SALE
NHP, the care home landlord, is to put 33 learning disability units on the market following its decision to take over 297 Southern Cross homes on 1st October.
Southern Cross was the UK’s largest care home operator, with over 30,000 residents and 752 homes. Landlords rejected demands from Southern Cross to drop rents and took control of the homes themselves.
The disability units are expected to fetch around £20 million, which will be put towards improving its new acquisitions. Property Consultancy GVA Grimley has been hired to sell the units.
NHP is also buying another 48 Southern Cross care homes, with 5000 beds, from Lloyds Property Investments, one of the insolvent group’s landlords. The acquisitions will transform NHP into one of the UK’s biggest care home operators.
The disability units are part of the Care Management Group, owned by advisory group Court Cavendish which is taking a stake in NHP. CMG provides support services for people with learning disabilities, chronic and enduring mental health needs, physical disabilities, communication and sensory impairments and challenging behaviours.
CMG was originally put up for sale earlier this year, though the majority of care homes run by the operator are now being retained.
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