Savills Healthcare instructed to sell Niles group

Tony Nygate and Andy Beckingham, Business Restructuring Partners at BDO Stoy Hayward and the joint administrators of the Niles group of care homes, have appointed Savills to sell the group, comprising six properties.

Tony Nygate and Andy Beckingham, Business Restructuring Partners at BDO Stoy Hayward and the joint administrators of the Niles group of care homes, have appointed Savills to sell the group, comprising six properties.  The homes are located in the South of England, and are offered for sale either individually or as a whole, by way of informal tender. Savills’ healthcare team, on behalf of BDO Stoy Hayward, is to sell the Niles Group of homes.

Five of the properties included in the portfolio are currently trading as care homes.  They are situated in Ashtead and Cheam in Surrey; Totton in Southampton; and Sandown and Totland on the Isle of Wight.  The sites range in size from a nine-bed Learning Difficulties home in Surrey to a 31-bed care home in Sandown.

A sixth property in Hastings is not currently trading and may lend itself to further development.  It sits on a 1.08 acre (0.44 hectare) site and offers the potential opportunity for a new-build care home, subject to necessary planning consents.  It has already received firm interest from a number of leading care providers.

Charles Harrison-Pinder, director of Savills’ healthcare team, comments: “Given the current strength of the Long Term Care market it is unusual to see a sale of this nature and as a consequence we expect to see strong interest.”

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