AMBER COURT - WELL LET CARE HOME INVESTMENT OPPORTUNITY avisonyoung.co.uk/14855 - Fastly
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avisonyoung.co.uk/14855
WELL LET CARE HOME INVESTMENT OPPORTUNITY
In excess of 17 years unexpired and benefits from fixed Annual Rental Increases
AMBER COURT
CARE HOME
KIPLING DRIVE, BLACKPOOL, FY3 9UX
INVESTMENT SUMMARY
• An opportunity to acquire a modern care home investment situated in Blackpool
offering 33 en-suite bedrooms.
• Rated as ‘Good’ by CQC.
• Let to Countrywide Care Homes (2) Limited on a 30 year FRI lease expiring on
10 June 2037 (in excess of 17 years unexpired) at a current rent of £184,052 pa.
• Lease benefits from annual uplifts based upon fixed increases of 2% pa.
• Run by highly regarded operator and management team with occupancy levels
generally at around 93%.
• Sister company, Maria Mallaband Care Group are one of the UK Market leaders
in the care home industry having over 80 care homes across the UK.
• Offers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand
Pounds) subject to contract, which offers a purchaser an attractive net initial
yield of 7.7%, based upon purchaser’s costs of 6.33%.
• In addition, the fixed annual rental increase create an attractive running yield
profile as outlined below.
Year Yield Year Yield
October 2019 7.85% October 2028 9.38%
October 2020 8% October 2029 9.55%
October 2021 8.16% October 2030 9.76%
October 2022 8.33% October 2031 9.95%
October 2023 8.49% October 2032 10.15%
October 2024 8.66% October 2033 10.35%
October 2025 8.84% October 2034 10.56%
October 2026 9.01% October 2035 10.77%
October 2027 9.19% October 2036 11%
AMBER COURT
CARE HOME
BLACKPOOL
A59
DUNSOP BRIDGE
GISBURN
PILLING
A59
FLEETWOOD
BARNOLDSWICK
GARSTANG
A56
A682
CHIPPING
A585 M6 CLITHEROE
COLNE
A59
POULTON-LE-FYLDE
AMBER A585
COURT M65 12
13
LOCATION
CARE HOME LONGRIDGE
WHALEY
BLACKPOOL BROUGHTON A671
3 32
1 11
A5073 4 A585
M55 A6 A59 A666 A680
A6068
10
BURNLEY
8
A583 A5085
A6119 A6119 7
LYTHAM PRESTON 31 A59 A677
6
ST ANNES A646
BLACKBURN
A6
30 A666
RIVER
RIBBLE
A59 A582 29
1
9
2 3 4
A56
“Blackpool has an estimated population of
LEYLAND M65 RAWTENSTALL 139,870 22% of which are over the age of 65,
28 DARWEN
TARLETON which lies above the UK average of 16%”
A666
8
A565
M6
CHORLEY
SOUTHPORT LITTLEBOROUGH
ive
Dr
A59 ewton 1 A58
BLACKPOOL NORTH N A666
TRAIN STATION M66 ROCHDALE
A570 Blackpool is a popular seaside town located on the Lancashire coastline,
BLACKPOOL BLACKPOOL
ZOO approximately 27 miles (43 km) north of Liverpool and 40 miles (64 km)
north-west of Manchester.
ve
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Dri
Cha
ite
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in Lan
The town boasts a number of famous attractions and events which support
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AMBER COURT
st
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e
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its strong tourism industry and vibrant nightlife. Major attractions include
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9
CARE HOME
Blackpool Piers, Blackpool Tower, The Pleasure Beach, Madame Tussauds,
B
53
90
Blackpool Zoo and its extensive beaches.
Preston Old
Roa
d
Pre
Kipling
Dr ive
hop
Road Blackpool has an estimated population of 139,870, 22% of which are over
Myt
sto
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the age of 65, which lies above the UK average of 16%. According to a 2018
w Road
NOMIS study, Blackpool has the oldest population of any UK city.
B5262
BLACKPOOL SOUTH
TRAIN STATION The town benefits from excellent road, rail, tram, and sea communication
A584 - New
Cl
ift
on
Ro links. By road, the town centre is a short drive from the M55 Motorway which
M55
ad
B5261
links directly with J32 of the M6. By rail, four stations provide regular services
St A
locally and by main line to London, Liverpool and Manchester.
Prome
n
J4
ne’s
A5230
Roa
Yeadon Way
nade
d
Mid
BLACKPOOL PLEASURE BEACH
gela
TRAIN STATION
nd
Roa
Cr
d
Roa
op
field
d
pe
High
B52
r
410
Ro
AMBER COURT
61
ad
B5
ide
Harr
ows
La ne
G ate CARE HOME
B5262
ires
S qu
BLACKPOOL
MARTON FOLD
SITUATION
“By road, the town
centre is a short drive
from the M55 Motorway
which links directly with
J32 of the M6”
The property is situated approximately
2 miles east of Blackpool’s famous
promenade. It lies off Kipling Drive which
provides direct access onto Preston New
Road and later Junction 4 of the M55
motorway (approximately 1.3 miles away),
a main thoroughfare into the town centre.
The property lies within a predominately
residential area and backs onto Martin
Mere Local Nature Reserve, a site that is
nationally accredited as a site of special
scientific interest. As a result, the area has
excellent hotel/leisure/health facilities
taking advantage of the areas natural
beauty such as Blackpool Zoo, Blackpool
Model Village and Gardens, and Martin
Mere Holiday Village. The state-of-the-
art 154 bed mental health hospital, The
Harbour, which completed in 2015 costing AMBER COURT
£40m, is also within proximity. CARE HOME
BLACKPOOL
DESCRIPTION
The property comprises a high quality purpose built care/nursing home facility.
It is of traditional part brick part rendered brick construction under a pitched roof.
Internally it offers:
• 33 en-suite bedrooms
• Numerous lounge and dining areas
• Onsite hair salon
• Garden and patio area
• External parking
Full details of the property can be found on the company’s web page
www.mmcgcarehomes.co.uk
AMBER COURT
CARE HOME
BLACKPOOL
THE SITE
“The property offers a high quality purpose built
care / nursing home facility”
Site
The property occupies a site of 0.439 acres (0.178 hectares).
Tenure
The property is held long leasehold for a period of 999 years from
29 January 2008 at a peppercorn rent.
AMBER COURT
CARE HOME
BLACKPOOL
TENANCY
The property is let to Countrywide Care Homes (2) Limited on a 30 year Full Future uplifts are outlined below:
Repairing and Insuring lease from 11th June 2007 at a current rent of £184,052 pa.
In addition the property benefits from annual rental uplifts based upon 2% per Year £/pa
annum increases with the next increase being October 2019 when the rent
October 2019 £187,733
increases to £187,733 pa.
October 2020 £191,487
The lease was subject to deed of variation in 2011 when Countrywide Care took October 2021 £195,317
assignment when the rent was rebased. There is also a photographic schedule October 2022 £199,223
of condition.
October 2023 £203,208
October 2024 £207,272
October 2025 £211,417
October 2026 £215,645
October 2027 £219,959
October 2028 £224,358
October 2029 £228,845
October 2030 £233,422
October 2031 £238,090
October 2032 £242,852
October 2033 £247,709
October 2034 £252,663
October 2035 £257,717
October 2036 £262,871
Under the terms of the lease the tenant provides full management accounts to the
landlord. Copies of these can be supplied to interested parties.
AMBER COURT
CARE HOME
BLACKPOOL
TENANT
COVENANT
Countrywide Care Homes (2) Limited are 100% owned by Countrywide Care Homes Countrywide Care Homes (2) Limited have a D&B rating of 2A1 (minimum risk of
Limited, who also own AAG Homes, Countrywide Belmont Limited and Countrywide failure). The company employs over 550 people and reported for the year ending
Care Homes (3) Limited. 30th April 2018 the following financial figures:
Countrywide Care Homes were founded in 2011 to provide high quality and Year Turnover Pre Tax Profit Shareholders Funds
affordable care for the elderly. It was set up to take over the running of a number of
care homes within the Southern Cross Healthcare portfolio. 2018 £16,635,540 £686,547 £9,675,326
2017 £16,278,346 £856,694 £5,913,611
Despite being relatively new the company is a sister company to Maria Mallaband 2016 £14,689,178 £104,679 £5,026,917
Care Group which has been providing specialist care since 1996. The company is
still family owned and is recognised as one of the UK’s leading independent care
suppliers. The company run over 80 care homes in the UK. Both businesses were Countrywide Care Homes (2) Limited is 100% owned by Countrywide Care Homes
founded by Phil Burgan who is CEO and Chairman to both companies. Limited, who for the year ending 30th April 2018 reported a turnover of over £50m.
Countrywide Care Homes operate around 30 properties around the UK and further MMCG which employs over 1,700 people across the UK achieved a turnover of £71m
information can be found at www.mmcgcarehomes.co.uk which is a shared web for the year ending 30th April 2017.
platform with its sister company, Maria Mallaband Care Group.
AMBER COURT
CARE HOME
BLACKPOOL
EPC
The property has an EPC rating of A(24).
VAT
FURTHER
INFORMATION
The property is not elected for VAT.
We are seeking offers in excess of £2,250,000 (Two Million Two Hundred and
Fifty Thousand Pounds), subject to contract, which offers an attractive net
initial yield of 7.7% rising to over 8% in 2020, net of purchasers costs of 6.33%.
In addition, the fixed annual rental increases create an attractive running yield Contacts and further information
profile as outlined below.
Should you require further information or wish to inspect the property
please call. Additional information can be downloaded at our data site
www.avisonyoung.com/14855
Year Yield
David Winterbottom
October 2019 7.85% T 0161 956 4103
October 2020 8% M 07836 225 552
October 2021 8.16% E david.winterbottom@avisonyoung.com
October 2022 8.33% Adam Wildig
October 2023 8.49% T 0161 956 4029
October 2024 8.66% M 07739 325 666
E adam.wildig@avisonyoung.com
October 2025 8.84%
October 2026 9.01%
October 2027 9.19%
October 2028 9.38%
October 2029 9.55%
October 2030 9.76% 0161 834 7187
avisonyoung.co.uk/14855
October 2031 9.95%
October 2032 10.15%
October 2033 10.35%
October 2034 10.56%
October 2035 10.77%
October 2036 11% Misrepresentation Act 1967. Unfair Contract Terms Act 1977 The Property Misdescriptions Act 1991. These
particulars are issued without any responsibility on the part of the agent and are not to be construed as
containing any representation or fact upon which any person is entitled to rely. Neither the agent nor any
person in their employ has any authority to make or give any representation or warranty whatsoever in
relation to the property. February 2019.
RB&Co 0161 833 0555. www.richardbarber.co.uk
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