Property Title: 1 purpose built nursing home & 2 purpose built Care Homes in the North East of England

Property Type: Care Home / Nursing Home

For Sale / Sold: For Sale

Date Posted: 03 Sep 2024

Location: Cleveland & Teesside

Guide Price: Bids Invited (Freehold)

Property Agency: Redwoods Dowling Kerr

Reference: 50977

Description

Project Lori provides care within its care homes for service users with dementia, mental health conditions, and physical disabilities. A total of 78 single bedrooms across all three properties all including en-suites. Turnover of £2,907,366 for year-end 2024 with an Adjusted EBITDA of £349,404. Currently occupied at 76 service users. 90% local authority clients 10% private. One 43 bed nursing home, One 17 and 18 bed residential care home. BnM worth in the region of £1,400,000
This business operates with 78 service users across 3 freehold properties. Potential to build a 20 bed extension for homes of the homes.
There is a second-tier management team in place who run the day to day operation of the business. Has registered manager in place.
The business is accredited a ‘Good’ rating by the Care Quality Commission. Has a sponsorship licence in place.