Four Seasons Health Care (FSHC) has announced it will sell the business, including all 46 remaining homes.

FSHC has launched the sale of the group consisting of 46 freehold care homes in areas of strong demand for residential and nursing care provision across England, Scotland and Jersey.

The homes trade under either the Four Seasons Health Care or Brighterkind brands.

The group has appointed CBRE, an advisory firm in the health and social care sector, to act as sales advisor to conduct the sales process.

Last week the group hosted its most recent bondholder call where it announced occupancy recovery to over 90% and improving care quality outcomes, which it said are now considerably above market averages. The group’s 46 care homes have a mix of residents – self-funders, local authority-funded and NHS-commissioned care recipients – in a wide range of local markets, with a focus on nursing and dementia care.

The 46 freehold homes are well specified with a significant proportion being purpose-built. The group has invested in this estate over recent years, with additional budget allocated for the remainder of 2024 and into 2025.

FSHC achieved quarter-on-quarter growth throughout 2023, with turnover £12.5 million higher than in 2022 on a like-for-like basis. Occupancy currently stands at over 90% with an average weekly fee of over £1,150. The group’s current care quality, as measured by care quality regulatory ratings, is recorded as 83% ‘good’ or equivalent.

Four Seasons Health Care Group’s chief executive officer, Joe O’Connor, commented: “This launch of the sales process reflects the significant operational and financial performance these homes have achieved. The homes are strongly positioned with excellent care quality, local market reputations and strong financial performance.

“In light of this, together with improved capital market conditions in the UK and early interest from the lending community, now is the right time to launch this sales process and we anticipate considerable interest from a wide range of prospective investors.

“During this sales process, our priority remains the delivery of excellent care quality for all residents, and as such the group will work closely with CBRE, potential purchasers and other counterparties, alongside relevant regulators, to ensure that the sales process doesn’t detract from this.”