Healthcare Property Services: News
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Click here to view December 2009 Healthcare Newsflash.
Click here to view February 2010 Healthcare Newsflash.
Click here to view April 2010 Healthcare Newsflash.
EDWARD SYMMONS HEALTHCARE OFFERS A SOLUTION FOR NEW BUILD
The rate of new build planning applications has gathered momentum in recent months. However for many operators taking on a development this can be a difficult leap of faith. In addition to build costs, the greatest concern is establishing cash flow whilst the development fills.
Fortunately help is at hand as developers seek innovative ways to attract custom from operators. Edward Symmons Healthcare has been working with a developer with a proven track record of care development to find a solution that benefits the operator. This involves building the home to the operator’s specification and then deferring payment until trade has been established.
The price paid is established from the outset based on an assessment of trade linked to prevailing social service and PCT fee rates with a discount to reflect the operator’s goodwill. It is anticipated that this method of procurement could provide a viable alternative to traditional turnkey models and be most beneficial to individual or small group owners.
For more information contact contact Peter Dowling on either 0207 344 4513 or peter.dowling@edwardsymmons.com
TENANTS WANTED
Edward Symmons Healthcare has been approached by a variety of investment funds seeking to acquire and lease new modern purpose built homes. Recent economic events has re-emphasised the care sectors profile as a comparatively safe haven for investment capable of providing attractive returns.
The current level of leasehold units is still relatively small, however with funds investing in the sector through the acquisition of new developments, the level of available leasehold units is set to rise. With this rise comes a demand for prospective tenants and we are very keen to talk to any operators interested in finding out more about leasing a care home.
There are currently a number of units in planning that offer the operator the security of a modern purpose built environment without committing to the expense of buying a property.
For more information contact contact Peter Dowling on either 0207 344 4513 or peter.dowling@edwardsymmons.com
Valuation of Glenside Manor
In 2006 Edward Symmons was instructed by a banking client to advise upon the proposed development of a new 45 bed Intermediate Care Unit (ICU) that was planned as an addition to the 104 bed Glenside Manor care complex that specialises in rehabilitating and caring for adults with acquired brain injuries (ABI) as well as elderly dementia clients. The new building had a gross floor area of some 2,900 sq m and a projected build cost of nearly £4.0M. Using our experience of other specialist centres we were able to satisfy the bank's concerns over trade build up, construction costs and likely end values and the matter progressed.
Our Building Consultancy division project monitored the works and despite issues over floor areas, VAT and other 'typical' issues the building opened on schedule.