Thu, 03 Jun 2010 | DIVISION SALE
A Scottish health board is planning to offload millions of pounds worth of its property portfolio in an attempt to reduce its £70 million deficit.
NHS Lothian has identified 15 properties in Edinburgh that could raise up to £15 million if sold, including the group's headquarters at Deaconess House. The board owns more than 300 properties in and around the city and has been reluctant to sell any of them while the property market has been in such a bad way.
The board's dire financial circumstances – which will force 2,000 job cuts in the next two years – means they are unable to delay it any longer.
Chief operating officer, James McCaffery, said, "We have identified about 15 properties we will market over the next year and that will include Deaconess House."
Other buildings include parts of Morningside's Astley Ainslie hospital and the Royal Edinburgh psychiatric hospital.
Finance director, Susan Goldsmith, said the sale of unused buildings was key to the financial plan and to offset dwindling funds from the Scottish Government in future. The sales echo previous similar moves by the board, which raised more than £100 million in the decade leading up to 2007 from sales including £33 million for the old Royal Infirmary at Lauriston.
A well established premium eyewear designer and manufacturer operating throughout the UK and overseas.
A turnkey freehold hotel, restaurant and wine bar business opportunity located in Jedburgh; a pretty town in the Scottish Borders with a high concentration of attractions within small parameters
LEASEHOLD
Represent a West Midland based specialist printing services company seeking an industry savvy acquirer, or an interested newcomer.
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Occupational health service provider secures PE backing for acquisitions | BUSINESS NEWS
A Hull-headquartered provider of occupational health service...
26
|
Jul
|
Tunnelling construction technology company falls into administration | ADMINISTRATION
A tunnelling construction technology company based in Basing...
26
|
Jul
|
Sumer firm RMT completes second deal of the year | MERGER
RMT Accountants & Business Advisors, which is part of the Su...
25
|
Jul
|
Surrey fit-out firm files administration notice | ADMINISTRATION
A major fit-out firm based in Surrey has filed a notice of i...
Business Sale Report is your complete solution to finding great 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.