There is no doubt that there is a massive demand for new care homes – and new owners to add vitality and a new dimension to those already open.
Ninety per cent of beds are taken up by people aged 75 or over, and this population in England will grow by 1 million over the next 5 years, and according to Alzheimer’s UK there will be another 100,000 people living with dementia who will need a care home bed by 2029.
However, the current supply levels of care home beds across the country are so varied it is not just a case of “find a location and build or buy it.” In some areas it will be a case of jus adding to an already over supplied area with only low occupancy levels and a struggle to recruit enough staff will be the only things to look forward to.
CSI have created MIDAS, borne out of a local market application that we used to supply care providers with valuable local market data since 2014. Delivered to your Inbox by the next working day, at a greatly reduced price to competitor reports, MIDAS will give you all the information you need to decide whether or not to progress with a particular opportunity.
In a brief yet informative 12 page report consisting 5 charts and 3 tables - we will make it easy for you to analyse:
Armed with this information, you can then decide to walk away if the picture is not good or move on to the next report stage where we will provide full competitor details, local GPs who will provide both support and potential customers and pinpoint where the self-funders are likely to come from.
Once again, this supplementary report will be provided the same or next day from order, so very quickly you will be able to move forward where things look promising.
All the data is based upon up to date and robust information provided from the CQC, and ONS population and demographic data, and is independent and objective – not swayed by a vendor’s literature.
The links below show two factual reports taken from two homes that opened during 2018. They are two very similar geographical areas, but with very different supply situations within a 5 mile radius of the homes. You will clearly see which one would be worth progressing (and where you would have a lead on other prospective buyers still contemplating what to do) and which one you should stay clear of, saving you lots of wasted time and money.
The third link explains the MIDAS report using the 2 Scenarios as guidance.
Please contact us now if you have an opportunity in mind, or are likely to in the future, so we can discuss costs and supply details. you will need to know as to whether or not to proceed with that care home purchase, build, loan or investment.
The ability to prove a current and/or future need for care within in local area will carry great weight at planning application stage and overcome other more cosmetic objections.
CSI has already helped win an appeal for a care home, the appeal judge saying it was key to the final decision.
CSI MIDAS will quickly give you an independent and objective report to support or otherwise your decision to lend or invest, or as to the level of the financial involvement.
You could make the provision of MIDAS data as a pre-requisite to an application, or proposal from a prospective purchaser.
If you need an objective and quick appraisal of a number of care homes within a portfolio, CSI MIDAS will be able to provide you the data you need so you can decide whether to progress on all, some or none of what is available to buy.
We have already provided our market information for portfolios of over 50 locations.
MIDAS will provide you with all the market support data you need to complement your financial data when setting up to sell your properties. In addition to the Critical Observations and the Supplementary Critical Reports, we can also provide supplementary information, such as existing planning applications within your area.
CSI Market Intelligence Ltd
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Worthing, West Sussex