Christie & Co instructed to sell 111 homes

RNS Number : 4379Q

Christie Group PLC

28 June 2022

 

28 June 2022

Christie Group plc

("Christie Group" or the "Company")

Christie & Co instructed by the Four Seasons Health Care Group to sell 111 homes

Christie Group plc (CTG.L), the leading provider of Professional & Financial Services and Stock & Inventory Systems & Services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors, is pleased to announce that its agency and advisory business, Christie & Co, has been instructed by the Four Seasons Health Care Group to sell a portfolio of 111 freehold care homes located across England, Scotland and Jersey, all trading under either Four Seasons Health Care or brighterkind.

This is the Four Seasons Health Care Group's remaining freehold property portfolio and associated care home business, thus being a key milestone in the Group's ongoing restructuring process.

Christie & Co expects the portfolio to be of interest to a range of buyers, including corporate buyers and investors, regional groups, and SME operators all of whom are looking for growth opportunities via acquisition.

Speaking on behalf of the Four Seasons Health Care Group, Joe O'Connor, Interim CEO of the Group, comments, "Our priority remains the continuity of care for all residents, and the Group will work closely with Christie & Co, potential buyers and other counterparties, as well as all relevant regulators, to ensure that the sales process and the transition of care homes to new ownership is seamless."

The sale is being handled by Martin Gould and Michael Hodges at Christie & Co, who comment, "We're really proud to be part of this unique opportunity, one of the biggest of its kind, which comes at a time when there is significant investor and operator interest in the UK elderly care sector.

"The sale presents a chance for the new owner to work with the fantastic existing staff at the Four Seasons Health Care Group and to invest and improve on these brilliant homes, all the while ensuring continuity of care. We are excited to be bringing this substantial group of assets to the market and anticipate strong interest from a wide range of prospective buyers."

Enquiries:

Christie Group plc
David Rugg Chairman and Chief Executive	020 7227 0707
Daniel Prickett Chief Operating Officer	020 7227 0700
Shore Capital Patrick Castle Nominated Advisor and Broker	020 7408 4090

Notes to Editors:

Christie Group plc, quoted on AIM, is a leading professional business services group with 39 offices across the UK and Europe, catering to its specialist markets in the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.

Christie Group operates in two complementary business divisions: Professional & Financial Services (PFS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PFS - Christie & Co, Pinders, Christie Finance and Christie Insurance: SISS - Orridge, Venners and Vennersys.

Tracing its origins back to 1846, the Group has a long-established reputation for offering valued services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.

For more information, please go to www.christiegroup.com

 

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