Speaking on our latest industry-leading podcast, regional directors Rob Kinsman and Lee Howard discuss how the market had rebounded strongly since the pandemic.
The company actually completed 78 per cent more deals in 2022 than it did in 2020 and it says there is now a good balance between those who want to sell their care homes and those looking to acquire businesses.
“There is a lot of pent-up demand, but there is also a bit of resilience in the care sector because of what it went through during Covid,” says Howard. “Having survived the pandemic, many operators are now looking to expand their portfolios, while other people are looking to come into the sector.”
Kinsman says that many care home operators are also retiring. This will push up the number of deals in 2023 because a number of owners had been unable to sell during the pandemic.
“There is a healthy supply of those looking to exit and there are deals to be had because pricing is good. There is a large number of sophisticated buyers willing to pay good money for a well-located and trading care home.”
When it comes to fees, there remains a north/south divide, with demand increasing in the Midlands.
You can download Christie & Co’s business outlook here.