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

How to Organize Your Garage How to Organize Your Garage
Autos2 days ago

How to Organize Your Garage

Do you have so much stuff in your garage, your car is left out in the cold? Keep reading. Your...

Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe
Business1 week ago

Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe

Preventing accidents in the workplace is both the moral and ethical responsibility of every employer. Knowing that there’s a safety...

4 Surprising Ways SaaS Can Be A Game Changer For Small Business 4 Surprising Ways SaaS Can Be A Game Changer For Small Business
Business1 week ago

4 Surprising Ways SaaS Can Be A Game Changer For Small Business

The World Wide Web will never run out of tips and strategies on how to grow your business. These days,...

Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business
Tech2 weeks ago

Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business

Summary: Cloud Computing is rising at a faster pace, and it’s crucially important for organizations to move to the Cloud...

5 Tips to Avoid Federal Tax Penalty For Taxpayers 5 Tips to Avoid Federal Tax Penalty For Taxpayers
Finance3 weeks ago

5 Tips to Avoid Federal Tax Penalty For Taxpayers

When you are undergoing a tax issue, then it is vital to have knowledge of what are you up against...

Spy App For Android A Tool For Keeping Workplace Spy App For Android A Tool For Keeping Workplace
Tech4 weeks ago

Spy App For Android A Tool For Keeping Workplace

Dealing with routine matters has been a lot easier and stress-free thanks to modern technology. Want to order food, use...

How to Create A Backyard Zen Oasis How to Create A Backyard Zen Oasis
Home Improvement1 month ago

How to Create A Backyard Zen Oasis

The lifestyle of the modern era usually depletes one’s energy by the time they get home from work. Whether or...

Mistakes You Need to Avoid When Preparing Your CV Mistakes You Need to Avoid When Preparing Your CV
Education1 month ago

Mistakes You Need to Avoid When Preparing Your CV

Writing a CV can be hard. You have to somehow condense all your experience into 1 or 2 A4 pages....

Home Decor Trends For 2021: What You Can Expect Home Decor Trends For 2021: What You Can Expect
Home Improvement1 month ago

Home Decor Trends For 2021: What You Can Expect

This year, the Covid pandemic has had a huge impact on many different industries and sectors and one which has...

5 Ways to Protect Your Teeth This Christmas 5 Ways to Protect Your Teeth This Christmas
Health1 month ago

5 Ways to Protect Your Teeth This Christmas

Christmas is just around the corner and the preparations are well underway for the festive day, even if it is...

How to Create A Referral Marketing Program In 6 Easy Steps How to Create A Referral Marketing Program In 6 Easy Steps
Marketing2 months ago

How to Create A Referral Marketing Program In 6 Easy Steps

You may have heard of the benefits of a referral program. Besides helping you attract more traffic to your website,...

5 Important Web Design Considerations to Make For Better SEO 5 Important Web Design Considerations to Make For Better SEO
Tech2 months ago

5 Important Web Design Considerations to Make For Better SEO

Ever since the birth of search engines, practices in optimising websites for better search rankings have changed considerably. Where it...

4 Reasons For Your Teeth Becoming Sensitive 4 Reasons For Your Teeth Becoming Sensitive
Health2 months ago

4 Reasons For Your Teeth Becoming Sensitive

Having sensitive teeth can be a common issue for many, but it can also be a sign that you have...

How To Keep Your Business Clean & Sanitised How To Keep Your Business Clean & Sanitised
Business2 months ago

How To Keep Your Business Clean & Sanitised

If your business offers any kind of public-facing services, then you will likely be thinking a lot more about the...

The Impact Of Covid-19 on Commercial Property The Impact Of Covid-19 on Commercial Property
Business2 months ago

The Impact Of Covid-19 on Commercial Property

The lives of people all over the world have been completely altered as a result of Covid-19, with businesses struggling...

Categories

Archives

Trending