finance

Care home and two nursery sales complete multi-asset property deal



Property advisor Christie & Co has sold an operational care home and two operating nurseries in what the final stage of a multi-asset transaction.

Christie & Co was appointed by Scottish childcare and care organisation Forth Care Limited – which operates Little Einsteins Nurseries and Rowandale Care Home – to sell a group of assets comprising one care home and six nurseries.

The recent completion of the sale of Rowandale Care Home, Little Einsteins in Pollokshields and Little Einsteins in Dundee concludes the divestment of the entire group.

Little Einsteins Nursery in Pollokshields operates from the ground floor of Rowandale Care Home – a concept which has gained attention during recent years, with the social benefits to introducing early years to elderly care residents being widely documented.

In its entirety, the group of assets sold comprised 28 nursing beds and 461 childcare places across a mix of purpose built and converted assets.

Geographically, the asset group spanned from the Glasgow area up to Perth, Kirkcaldy, Dundee and Arbroath.

Due to the composition and cluster locations of the settings, and to maximise value, the group was sold via separate transactions.

The assets were sold to five individual purchasers spanning local individuals and operators through to larger operational groups.

Christie & Co senior director Martin Daw, who managed the transactions, said: “It was great to see the remaining care home and two nurseries sell to an operator who now plans to expand their existing care home experience into running childcare settings.

“Both care homes and children’s nurseries have had their challenges during this pandemic, but confidence remains strong in both sectors that delivering quality care to adults and children is essential no matter what the conditions.”

Rosie Adlem, director and childcare specialist at the firm said: “We are delighted to have concluded a sale of such variety, particularly in these challenging times.

“We are finding that demand remains strong within the childcare sector and those with the ability to invest are keen to do so and further develop their brands and operations across the region.

“Despite the challenges of 2020, the final stages of this transaction demonstrate that appetite for both operational and closed assets remains, and that, with the right advice and marketing approach, successful outcomes are still very much achievable.”

The seven sites were sold separately at undisclosed prices.



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