Connect with us

Investments

Further Care Home Investment Could Be Needed As Closures Feared

Further Care Home Investment Could Be Needed As Closures Feared

The UK may need a raft of new care homes in the next few years, after it was revealed that some may close in the aftermath of the Autumn Statement.

A stream of investment in new purpose built private care homes may be needed in the UK in the coming years, after the chancellor’s Autumn Statement this week raised fears that there may be closures in this sector across the UK.

Care-home owners including Four Seasons, HC-One, Bupa UK, Barchester, Care UK and had all appealed to the chancellor this year for more funding, telling him in writing that without funding, the industry would struggle in the public sector.

However, George Osborne failed to listen to these warnings, and in Wednesday’s (November 25th) Spending Review, the chancellor did not offer any extra funding to the care homes sector, leading to fears that many could close because of funding issues in the next few years.

Further Care Home Investment Could Be Needed As Closures Feared

In their pleas, care home operators had told the government they would need some £3 billion of funding in order to make sure they could help keep the quality of care for older people at a high standard. They were, however, given just £500 million.

And although the chancellor said local authorities will have the chance to increase council tax to aid their spending on such services, many fear that care homes will not be top of the agenda when it comes to spending for councils, with roads, schools and general maintenance likely to take precedence.

Martin Green, chief executive of Care England, said: “As a result of this, we will see care homes closing and greater pressure on the NHS,” he said. “The comprehensive Spending Review was a missed opportunity to establish a long-term and sustainable future for social care.”

What this will mean is there could potentially be a gap in the market for private investors to exploit. With traditional care homes closing down, the demand for high-quality, modern, well-maintained and managed, care facilities that give older people the chance to enjoy an independent and social way of life is likely to continue to rise.

This market has already started to grow from its rather niche position in recent years and any large-scale closure of care homes across the country would only see their positive virtues become even more prominent, bringing in new investors.

London-based property company, Experience Invest has sold a number of care home investments to individual investors. A spokesperson from the company commented:

The shift in focus towards the care home sector is one which we expect will help push care home investments into the mainstream. Over the years we have found that many individual investors are not aware that they can invest in rooms within a care home and receive a stable return from the sector. Due to the specialist nature of the industry, many people don’t realise that investing in this sector can be as simple as investing in more traditional asset class.”

Continue Reading

Recent Posts

Autos2 days ago

Choosing the Right Tail Lights for Your Car or Bike

If you need new tail lights for your car or bike, you’ll want to take several factors into consideration so...

End of lease cleaning in Melbourne End of lease cleaning in Melbourne
Home Improvement2 days ago

End of lease cleaning in Melbourne – Move in and Move out easily

If you are a tenant, you are sure to be aware of the fact that you get to move into...

team in Sydney team in Sydney
Lifestyle2 days ago

Tips in finding a trustworthy removalists team in Sydney

Relocating to a newly rented or leased house space can be a tedious and time-consuming process to perform on your...

Lifestyle4 days ago

4 Fashion Additions to Complete Your Outfit

A wonderful outfit can make you appear and feel like someone who can conquer the world without even breaking a...

Autos5 days ago

How to Go about Selling an Old Car for Parts

Selling an old car for parts is easier than most people realize, and your junker could be worth quite a...

Business2 weeks ago

4 Things to Consider Before Choosing a Feed Tank for Your Manufacturing

In every day manufacturing you may find that you need a feed tank for your operation. Selecting the right feed...

Tech2 weeks ago

How to Find a Phone that Fits your Needs

Are you looking to buy a phone that may suit your needs without poking a hole in your wallet? You...

Lifestyle2 weeks ago

Elegant Dinner: 4 Ways to Fancify Your Next Get-Together

Throwing a social gathering in the comfort of your own home can be a joy. If you want your upcoming...

Autos2 weeks ago

5 Issues You May Face in the Aftermath of an Auto Accident

Being involved in a motor vehicle accident is something we all would like to avoid. However, no matter how safe...

Business3 weeks ago

5 Ways Guest Posting Can Help Grow Your Online Audience

Guest blogging is the process of posting your original content on someone else’s website. This might seem like a counterproductive...

Home Improvement3 weeks ago

4 Important Ways You Can Update Your Decades-Old Home

Modernizing an older house doesn’t need to be a time-consuming or expensive process. With a few simple upgrades and a...

General3 weeks ago

3 Ways to Strive Toward Better Sexual Health

September is World Sexual Health Month! A critical part of our overall well-being is sexual health. This month is the...

Finance4 weeks ago

Strapped for Cash? 5 Ways to Earn Money Quickly

The dream is to be in a position where you don’t have to worry about money. Until that dream becomes...

Autos1 month ago

4 Signs Your Transmission May Be Going Out

Of all the mechanical problems that your vehicle might have, a transmission issue is perhaps the most dreaded. If you...

Ideas to Increase Attendance Ideas to Increase Attendance
Tech1 month ago

Creative Event Promotion Ideas to Increase Attendance

In modern and challenging world technology integration is considered as the crown of the successful business. Technology revealed the consistent...

Categories

Archives

Trending