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Muckle helps Hadrian Healthcare Group sell sites to Bupa UK

8th Dec 2015 | Corporate Finance

We are pleased to have assisted HHC in their recent sale of sites to Bupa UK.

Hadrian Healthcare is focussing on growing its luxury brand after selling a division to private provider Bupa UK in a multi-million pound deal.

The health giant has snapped up the Lifestyle branded division of the Gateshead-headquartered business – six homes and two development sites representing just under half of the portfolio – in the undisclosed deal.

Chairman and founder Ian Watson said the deal was secured very quickly after making it known within the sector that the firm was keen to focus on its luxury care homes, which come under the Manor House brand.

Bupa UK acquires Crossley House in Bradford, Sunnyview House in Leeds, Blyth’s Ridley Park , Edmund House in Scunthorpe, and Berkeley House and Berkeley Square which are both in Hull.

Development sites in Leeds and Scunthorpe have also been snapped up in the deal.

Mr Watson said: “These are first class homes providing the very best in accommodation and care standards for residents.

“We are delighted to have agreed this sale to our friends at Bupa UK who I know share our commitment to delivering high standards of person-centred care.

“I have always had the two divisions with the Lifestyle homes and Manor House homes, and we made a strategic decision to sell the Lifestyle division, which has over 350 beds in the mature homes and 70 beds to come in the homes being developed.

“It was great for us because in conversations we had with Bupa it was clear they support our common core values with regards to the residents and in terms of commitment to maintaining the training and development of staff.  They will be good custodians of the homes.

“Strategically, that leaves us to focus on the luxury Manor House homes and gives us time to further develop the range of services we deliver. We’re still very much about moving forward.

“The whole deal itself was done really quite quickly.  Bupa very quickly came to the table and Hugh Welch and his team at Muckle LLP acted for us and did an exceptional job, completing the deal in eight weeks.”

Hadrian Healthcare was advised by Stewart McKinnon at RSM and Julian Evans at Knight Frank.

A spokesman for Bupa UK added: “We are delighted to acquire these homes.

“The acquisition supports our desire to offer well-run care homes delivering high-quality support with trained and committed colleagues.”

Hadrian Healthcare seeks prime locations and designs and develops each home to a very high standard, including luxurious touches such as bistro cafes, cinemas, ballrooms, bars, in-house chefs, private en-suite rooms and gardens.

The significant deal comes days after the £7m Manor House, which provides residential and dementia care, officially opened in Knaresborough.

The division already has homes in Gosforth, Whickham and Barnard Castle, as well as four in Yorkshire.

If we can help with the sale of your business, please contact Hugh Welch on 0191 211 7903.

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