Beautiful Welsh coast care home in administration now for sale
Specialist business property adviser, Christie & Co, has brought to the market The Alexandra Nursing Home in Tywyn, North Wales.
In September 2021, the operating company of The Alexandra Nursing Home fell into administration, and business operations were taken over by Cornerstone Care Solutions on behalf of the joint administrators, David Shambrook and Gary Hargreaves of FRP.
The home benefits from a stunning location on the north-west coast of Wales and trades with a capacity of 25 bedrooms in a converted property with some purpose-built extensions. The home is arranged on a level plot of just over half an acre with prominent main road frontage. There is potential for extending the capacity of the care home with historic planning permission for an additional six bedrooms, which has now lapsed.
Christie & Co research suggests a significant under-supply of bed compliant spaces in the area together with an ageing population in the town. This is demonstrated by the historically strong occupancy levels and profitability of the business which is well-established in the area.
David Shambrook at FRP comments, “The appointment of Cornerstone Care Solutions has provided the stability and expertise the home required to ensure all residents continue to receive quality care. We believe this is now the right time to identify a long-term owner for the home.”
James Knight and Rob Kinsman of Christie & Co, who are managing the sale on behalf of FRP, comment, “The Alexandra Nursing Home represents a great opportunity for an experienced care operator to acquire an established nursing home with upside potential and will also appeal to new entrants to the market.
“After a highly-publicised turbulent period in the care sector, occupancy levels at The Alexandra Nursing Home remain strong which has, no doubt, been helped by the experienced and dedicated staffing team at the home.”
The Alexandra Nursing Home is offered for sale on a freehold basis, which includes all fixtures, fittings, and goodwill. Price is available on application.