Commercial property service firm JLL says the quick-fire £2m sale of a site in Dagenham with consent for a 60-bed care home reflects the appetite for such properties in the south of England.
The sale, carried out on behalf of a national care home operator, followed a marketing campaign that generated significant interest from both local and regional buyers.
JLL said the number of parties that assessed the property underscores the confidence that there is in the care home market for development opportunities in the South East.
Eamonn Meadows, associate director at JLL, said: “The level of interest in the site from good quality local operators clearly demonstrates the strength of the mid-tier market and enabled us to conclude a sale within 10 weeks and exceed our client’s expectations.
“The under-supply of such sites, particularly within the M25, could not be more acute and the need to identify new opportunities is pressing. There were several disappointed parties in this sale and so we are actively looking for further sites to assist with those parties expansion.”
JLL is currently acting on behalf of a number of operators across the UK that have active requirements to expand their care home portfolio over the next three years.