The British healthcare real estate segment
- Investments during the first nine months of 2021: 66 million EUR
- Investments during the 3rd quarter of 2021: 66 million EUR
- Healthcare real estate portfolio in the United Kingdom at 30.09.2021: 66 million EUR (3 sites in operation)
The United Kingdom has one of the largest care home landscapes in Europe, but the sector remains highly fragmented . 78% of care home beds are in properties not originally built with care use in mind or are more than 20 years old. Purpose-built homes that are less than 20 years old account for just 22% of all care home supply.
Population over 85 is set to increase by 27.5% to 2030, with an estimated 460,000 more people of this age in the decade. This is seven times the growth rate of the overall UK population and 16 times faster than the working age population.
Based on current rates of occupation, the rise in dementia, and the high levels of co-morbidity amongst older people, the UK would require a further 10,000 additional care home beds per annum to 2030 to keep up with demand. Not only is there a need for a higher quantity of care home beds, but quality issues of the current stock need to be addressed urgently.
The need for investment in the British nursing and care home sector is high. Cofinimmo’s entry in Britain underscores its active participation in the expansion and renewal of the property portfolio dedicated to healthcare in Europe.
Cofinimmo entered British healthcare real estate in July 2021 with the acquisition of three recent nursing and care homes located in East and South-East England. All sites are of premium quality and located within a radius of maximum 100 km North of London. Together, they represent 196 beds and a total surface area of approximately 9,500 m².