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CBRE advises on acquisition of Cornwall Care

CBRE’s Operational Real Estate team has acted as advisers to Sanctuary, the leading not-for-profit housing and care provider, on their acquisition of Cornwall Care.  The strategic deal, in partnership with Cornwall Council, ensures the continuity of high-quality care for residents and clients, as well as providing investment in their homes and services.

Cornwall Care is the county’s largest older person’s care provider and a not-for-profit organisation which owns and manages 13 residential, nursing and dementia care homes, as well as supporting people to live independently in their own homes.

As part of the acquisition, Sanctuary and Cornwall Council have agreed a long-term Strategic Partnership to allow both organisations to work closely together to provide high-quality care and support to elderly and vulnerable residents in the county, which will safeguard future care provision.

Sanctuary has been a registered provider and significant developer in Cornwall for more than 40 years and manages over 2,000 homes, providing affordable and shared ownership, key worker and student accommodation.

With this latest acquisition under the Sanctuary Care brand, the company now manages 111 care homes across England and Scotland, providing care for more than 5,500 residents.

The deal brings investment from Sanctuary which will include technology and innovation, as well as wider employment opportunities for Cornwall Care staff, including greater learning, support and personal development prospects.

Shaun Skidmore, Senior Director at CBRE Manchester said: “CBRE provided Sanctuary with acquisition advice across the portfolio of residential, nursing and dementia homes along with homes for independent living and potential sites for future development. The Sanctuary team is passionate about developing and delivering the highest quality care under its Sanctuary Care brand and have been a delight to work with.  We have worked together as true partners, and we are proud to have been entrusted with this strategic advisory role.”

Craig Moule, Group Chief Executive, Sanctuary commented: “We are very pleased to complete this acquisition and warmly welcome Cornwall Care’s residents, clients and team members to Sanctuary.  We are absolutely committed to providing the highest standards of care and to enrich the lives of every single resident in the care homes we are acquiring.

“Our new strategic partnership has been forged to enable us to serve even more people in Cornwall, strengthening our links and continuing our work with Cornwall Council to ensure people in the county get top class care and support when they most need it.”

Andy Virr, Cornwall Council’s cabinet member for adults and public health said: “I am pleased that the transfer of the freehold of the Cornwall Care home sites has now been successfully completed.  Our key aspiration throughout this process has been to further secure Cornwall’s care market, ensuring people are able to stay in their homes, as well as allowing more investment and improvement at these sites.  We look forward to the development of these plans.”

Sally Taylor, Cornwall Care’s Chair said:

“This is very good news for Cornwall.  Sanctuary has the expertise, resources and care sector knowledge to make this an excellent and very effective, long term strategic partnership.  Delivering high quality care has always been our charity’s aim and that will continue as we work alongside a not-for-profit organisation that shares the same goal and has an impressive track record in the care sector.”

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