Buying and selling Care Homes
Are you thinking of buying a care home? Or maybe you are selling a care home? We can provide expert legal advice to make sure the care home sale goes smoothly.
If you are planning on buying or selling a care home, there will be multiple hurdles to clear before the transaction completes. From the initial Heads of Terms through due diligence and to post completion, there are numerous steps in the process.
In addition to TUPE obligations, you will need to consider whether there are any restrictive covenants on the property and how assets will be transferred. Our legal expertise and experience in the care home sector will help you to navigate all of these challenges, and more, to complete the sale or purchase smoothly.
Here are a few tips on how to ensure your acquisition or sale of a care home completes as smoothly as possible.
For more information about our healthcare legal services please call us on +44 (0)20 3475 6751 or email firstname.lastname@example.org
Register with the Care Quality Commission
There are 14 types of regulated activities which require you to register with the Quality Care Commission (CQC) in England. These include nursing care, personal care or providing accommodation for individuals who need either nursing or personal care.
Before you are able to complete the sale, the new owner must be registered with the CQC. Even with no complications, this process will take a minimum of 10 weeks so it’s highly advisable to make an application as soon as possible.
Check Maintenance of Assets
In a care home, there are multiple pieces of essential equipment such as hoists, kitchen devices and washing equipment. These should be properly maintained and recent proof of maintenance work and checks carried out. The sale can falter in the latter stages if the assets have been poorly maintained and aren’t of an acceptable standard.
Check for Permissions and Restrictions
If you are hoping to make changes, you should check for restrictions or covenants that would limit your plans. A defective title indemnity policy may be worth considering.
YOUR HEALTHCARE LEGAL TEAM
t: +44 020 3475 2729
m: +44 07377 190 406
t: +44 020 3475 2724
m: +44 07931 347 854
We have completed £750m worth of pharmacy, dental, care home and nursery transactions.
WHY CARTER BOND
Unlike many law firms when we say partner or barrister led, we mean partner or barrister led. When clients work with us, they get constant access to the lead on their instruction. Yes, we have a team of solicitors and juniors for some of the groundwork and necessary research required by our clients, but this is when it makes financial sense to the client for us to do this. We provide constant contact at no extra cost as part of our service as most of our lawyers have their own business, so they know first-hand how important having a proactive, responsible and trusted partner on their side can be. And also how to work to a financial budget, and the way that legal decisions impact the wider organisation, which often requires balancing risks and competing interests.
Many ask us ‘what’s different about you?’ and we like to reply, ‘because we go the extra mile’. We see our work as building and maintaining good business relationships rather than just earning fees. How we do this is by keeping in constant contact with our clients and intermediaries. From pre to post instruction we ensure that our clients are informed of all legal issues that may impact their business and therefore lives. That is why we provide daily or weekly updates to ALL of our clients whether there is anything to tell them or not (we don’t charge for this we just see it as part of our service). We like our clients to rest peacefully knowing that when we are instructed, and we say ‘we will take it from here’ they know we mean it.
City quality, outer City fees
The world is changing, and many individuals are realising that lifestyle is as vital to them as is income. We are the lucky ones who can hand pick lawyers who can provide the best quality advice but at outer city costs. Our offices are in North West London which may not be the most salubrious in the market but at the same time this allows us to charge our clients for what they pay for, our advice NOT our office space.
ALL our lawyers have previously worked in large city-based law firms and continue to practise and offer the same high level service they provided to clients in the City but without the pressure and demands often dictated by City law firm. This allows us to be competitive on our fees without compromising our service.
All in all, our clients win, which is the way we like it.
Our knowledge and resources are yours
All our clients benefit from the same high level of care and attention whether the instruction is big or small. At the outset of each matter, we discuss the entire process with our clients, including the costs, potential outcomes and issues associated. This is to ensure clients are fully aware, knowledgeable and are in control always. Supporting and ensuring we provide the highest level of services, we offer our constant contact process with the partner or barrister leading your file, a document log in for matters which are for larger and more complicated instructions and on-going support post transaction should our clients require it. Our aim is not just to get the work done, but to make our clients’ lives easier as we do it, which is why we ensure that our clients have regular access to the resources they need from us.
“Efficient, proactive and professional!”
“From buying a chemist, selling a chemist, and buying properties, they have always given five star service.”
“Very diligent and responsive.”
“This is a firm that walks with you and holds your hand all through the process. Get an answer to any queries at anytime!”
“Their knowledge about the pharmacy market was profoundly demonstrated.”
“Incredibly well sourced.”
“Great work by Reena and her team to turn around a dental practice purchase in 7 days under challenging circumstances.”
“The team at Carter Bond operate ethically, efficiently and they work around the clock to make your goals, their goals.”
Are you thinking of buying a care home? The care home industry is highly regulated so check out our guide to read about the essential factors you should consider. In the next 25 years, the number of people aged over 85 is expected to increase twofold, placing even...
The best way to prepare for the sale of your business is to be well informed: this will allow you to take the necessary steps to get the highest possible sale price for your business. With this in mind, our experienced solicitors have compiled an overview of the key points to consider when preparing to sell your business.
TUPE is an acronym for the Transfer of Undertakings (Protection of Employees) Regulations, which are designed to protect employees if the business they work for changes ownership or if there is any change in service provisions.