* Clarence Grove is a 91-bed care facility located in the Greater Manchester area and promises net returns of 8%.
Clarence Grove is situated in the picturesque town of Heywood in the Greater Manchester area, just south of the beautiful Pennine Hills. It is surrounded by landscaped gardens, and has flowerbed and sensory gardens for the residents to enjoy.
Currently, the care home is fully operational and accommodates both local authority and privately funded individuals, and when it comes under control of the new management company, that will continue.
Clarence Grove will be managed by an experienced operating company that shares the vision of the developer, this allows for the nursing home to operate to a high standard as both parties can collaborate and share their expertise.
The care home sector is proving to be extremely popular with buy-to-let investors and with weekly rents for care home with nursing averaging £673 p/w in the North West it’s easy to see why.
The UK’s population is ageing, and care facilities are often run at full capacity, and it is increasingly becoming a struggle to accommodate all of those who need care. The Office of National Statistics has estimated that by 2050, 1 in 4 of the UK’s population will be aged 65 or over, so demand for care home facilities will steadily increase. By purchasing in a care home unit, you will be investing in something that is mutually beneficial.
As the larger developers focus their attention to opening nursing facilities in the south of England, the north has been neglected and is in desperate need of new care facilities. The Greater Manchester metropolitan area is the second most populous urban area in the UK, being home to almost 2.8 million residents. There are currently 29,500 elderly people living with dementia in the Greater Manchester area and that number is rising rapidly, with 3,000 having been diagnosed with dementia in the past year. A recent report has suggested that by 2036, Greater Manchester will experience an 85% increase in the number of people diagnosed with dementia.
Like the rest of the UK, the population of Greater Manchester is ageing. A seventh of Greater Manchester’s population is aged 65 or above (400,000 people), and by 2021 that number is expected to increase by 20%.
With these sorts of statistics, Greater Manchester is in desperate need of well-run nursing facilities, especially because 241 of Greater Manchester’s 1115 care homes have been deemed inadequate or in need of improvement.