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Two in five care homes say occupancy is below 80%, Christie & Co reports

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Just under 40% of care homes have less than 80% occupancy, according to the latest analysis by specialist business property adviser, Christie & Co.

In its mid-year review of the care business property market, Christie & Co found 45% of respondents had seen occupancy levels recover but 39% had occupancy levels under 80%.

Christie & Co said average occupancy was showing signs of improvement but overall increases were slow with providers focused on maximising income from local authority or CCG funded clients with complex needs.

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Strong buyer demand meant that pricing was holding up well, however, with multiple offers being routinely received, Christie & Co said.

Just under half (45%) of respondents believed values would increase during 2021, with 33% cent expecting little improvement.

One in five (20%) of operators are looking to sell this year, with 29% looking to buy.

Christie & Co also reported increased institutional interest as well growing interest from overseas capital, particularly European investors.

Richard Lunn, Managing Director at Christie & Co, said: “The pandemic has thrown a spotlight on the industry and, in many respects, has shown the importance of care provision in the UK. As a result, we have seen an increase in the demand for homes from providers looking to grow their portfolios.”

To read the full mid-year review, click here: https://www.christie.com/news-resources/publications/july-2021/care-mid-year-review-2021/

Tags : Christie & CoOccupancyResearch
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The author Lee Peart

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