The care home sector is often described as in a state of financial crisis, but that hasn’t stopped it helping no fewer than three multi-millionaires onto this year’s Sunday Times Rich List, with a total net worth of £474 million between them.
Top of the pile is Keith Bradshaw and his family, who is estimated by the Rich List to be worth £190 million today, up from £180 million last year. That places him at 557th on the annual list. Mr Bradshaw, now 72-years-of-age, was a serial entrepreneur in his 30s, but struck it rich creating the largest private care home group, BP Nursing, in the 1990s. The company, which changed its name to Takare Plc before merging with Court Cavendish to become Care First, was sold to Bupa in 1998 for close to £300 million, netting Mr Bradshaw around £21 million.
His main source of wealth today is the Listers network of car dealerships, which is worth around £200 million, but may not have been possible without the wealth Mr Bradshaw accumulated in the nursing home sector.
The next richest care home group millionaire is still in the business – Gordon Sanders owns Runwood Homes, which cares for around 4000 residents in 65 residential homes across the UK. Mr Sanders, estimated by the Sunday Times to be worth £144 million, began his career in property development, and this skill is still key to Runwood. His 35 years’ experience as a developer have given him specialist knowledge that has put him at the forefront of the care home construction industry in the UK, developing new purpose-built facilities whilst extensively refurbishing existing homes to the highest possible standard. He is placed at 564th on the Rich List.
Cliff Cook is at 729th on the Rich List, with wealth of £144 million. The New Zealand-born entrepreneur is chairman of LifeCare Residences operates Grove Place in Hampshire, Somerleigh Court in Dorset and is developing London’s first luxury retirement community, Battersea Place, at a cost of £113m.