Luxury care homes on course to smash £2,000 barrier

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Welltower senior vice-president John Goodey has said luxury care homes in London will soon be breaking the £2,000 weekly fee barrier.

The Welltower executive was speaking to an audience on the first day of the Care & Dementia Show at the Birmingham NEC.

Mr Goodey said: “Demand is strong for 100% private payer care homes. We have never seen better occupancy levels.”

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He added that a “wealth bulge” from house owners and a reduction in formal care meant that demand would continue to rise for high end homes.

Mr Goodey said the wealthy elderly were increasingly paying £1,500-£1,700 per week for a better care lifestyle adding that the £2,000 home would soon be seen across the capital.

The recently launched Chelsea Court Place in Kings Road in London offers a package of all-inclusive care for well in excess of £2,000.

Mr Goodey highlighted how the proportion of private funders had doubled to 40% over the past 10 years in the UK and had now hit 50% in the south east.

He said the UK was preparing for a “silver tsunami” over the next 30 years with high end operators increasingly targeting the wealthy south east.

Established in 2012, Welltower is the builder and operator of Sunrise properties, as well as holding stakes in Gracewell, Avery and Signature homes.

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