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.
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.”
How To Be A Confident Person
Attractive, confident, funny, charismatic. These are some characteristics that define an alpha individual. While we all know what the goal...
Common Reasons For Visiting An Orthopaedic Surgeon
Have you suffered regular knee or back pain? Do you feel tired or stiff for a long time after resting...
Best Wholesale Beauty Product Suppliers In 2020
Beauty products include a range of goods that are used to care and enhance the appearance of your face, hair,...
Big Things A Digital Marketing Business Conducts
The customary word “ad” is defined as a communication procedure between the group of onlookers and the imminent business moving...
International Shipping In A Global Pandemic
The Covid-19 pandemic completely turned the world on its head, in more ways than one. Beyond the devastating medical challenges,...
8 Ways To Reduce Stoke Risk
Stroke is the fifth leading cause of death in the United States. To help you understand how severe and common...
Top Whey Protein Recipes To Lose Your Body Fat
Losing weight and keeping the kilos off is not an easy thing to do. Everything from what you consume to...
5 Amazing SEO Tools to Spy On Your Competitor’s Website
So, you’re running an online business, and you surely want your business to get the best results. But, there are...
Keep .eu Domain After Brexit
Domains are becoming as essential as someone’s own home in the world of internet. Internet users are always looking for...
How To Use Apple Cider Vinegar With Mother To Maximize The Health Benefits
Apple cider vinegar is used in many different household chores like floor washing, cleaning, doing dishes, vegetables and fruits washing,...
8 Tips from Dermatologists For Gorgeous Skin
We all wish of a flawless and glowing skin, but it’s not always easy to figure out the skin care...
Uterine Fibroids: What Are Its Causes, Symptoms, and Treatments?
Uterine Fibroids are non-cancerous tumors that develops in a woman’s uterus. They are also called leiomyomas or myomas and appear...
Electric Stove or Gas Stove? Which One is Better?
While remodeling your kitchen to include some kitchen essentials or buying a whole new house, you might be comparing electric...
6 Surprising Health Benefits Of Making Origami
It has been centuries since Origami has been developed, and until now, people still use this art. This is not...
Personal Protective Equipment That Protects You From Workplace Hazards
The workplace is full of hazards. Whether you’re working in the construction sector, the automobile industry, manufacturing, or any other...
- Tech5 years ago
Creating An e-Commerce Website
- Tech5 years ago
Design Template Guidelines For Mobile Apps
- Business5 years ago
The Key Types Of Brochure Printing Services
- Travel8 years ago
Who Else Wants Also Nfl Hat
- General5 years ago
Kobe Bryant With His Unique Nba Jerseys
- Tech5 years ago
Climb Google Using These Checklists
- Tech6 years ago
Why Small Businesses Can't Ignore Mobile Technology
- Health7 years ago
Health Supplements For Sports Activities Nutrition