We are pleased to place onto the market this well established care home which is housed in a period property dating back to the turn of the century. It is situated on a main arterial road in Portsmouth within an unopposed area with all local amenities.
This business was established initially in 2008 as a day care centre. The present care home gained registration last year on the back of the business’s local reputation within the industry. It has gained residents through various sources including social care, OPMH team, The Langston Centre, and St James hospital It has an excellent local reputation which has been built through word of mouth. It is registered as a dementia care home.
Over £180,000 has been spent on renovations on a building which was already used previously as a home.
At present the business has 8 residents and a total capacity of 9 although it has now been informally increased to 13 as some of the room so will allow double occupancy. With respite care there is normally 100% occupancy. The business does not take low funding clients. There is potential to extend the property and offer up to 19-20 places quite easily with minimal investment. 60% of new business is through referrals.
16 staff are employed including 8 day/evening staff, 6 night staff, a part time cook, and a maintenance man. The Provider has always been involved in Older Persons Mental Health and worked with the local health authority for many years and the staff are therefore very experienced. There is an excellent team offering excellent care. Agency staff have never had to be used.
The property has class D1 usage which allows it to be converted into a day nursery, a doctors surgery or to be used in healthcare.
The Owners are willing to offer a handover period and an observation period if required.
The annual turnover is £266,000 with an EBITDA of around £96,176. This is at a limited registration of 9 although the occupancy will be increased to 13 for the forthcoming year.
The property is has class D1 usage and is valued at £750,000 freehold and consists of 5 en-suite single and 2 en-suite double rooms, with a kitchen, dining room, lounge, utility room, conservatory and garden. On the first floor there are further rooms. On the second floor there are offices and staff facilities. There are options to expand the property to increase the number of rooms.
The property is freehold.
These details do not constitute part of an offer or contract. The statements and descriptions given are made without warranties by Enthuse Transformations Ltd (Trading as ETS Corporate). The information contained herein has not been verified by Enthuse Transformations Ltd; complaints regarding the accuracy of the information contained herein will not be acknowledged. Purchasers should in all cases undertake financial due diligence using their own professional advisors before committing themselves in contract rather than relying on illustrations, figures and information given on behalf of the seller. Furthermore, any representations made by any representative of Enthuse Transformations Ltd regarding this business are subject to verification and should be independently corroborated.
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