OUR CORPORATE BOUNCE BACK …
11 December 2020

Our corporate team specialise in healthcare transactions, assisting customers all over the UK with Nursery, Care Home, Dental Practice, Pharmacy and Domiciliary Care Agency deals.  

In March as we entered lockdown, like many businesses, we were fearful for what the rest of the year would hold…

Nurseries

As a department this is one of the main areas that keeps us busy, and over the last few years we have seen much demand in the market with people wanting to invest in Nursery settings. Then Covid-19 arrived.

For a buyer, the uncertainty in the Nursery market was and is still very daunting. For three months we saw very little demand, our existing customers paused their transactions.

Care Homes

Our care homes house the country’s most vulnerable. Run properly, they can be very profitable and the demand to own a care home has always been there. Until Covid-19 arrived.

Care homes are highly regulated, so any buyer needs to be prepared to jump through hoops and over red tape to satisfy the CQC requirements. On top of an already highly regulated sector, owners and managers are managing a national pandemic and doing all they can to protect our elderly and ones who require care.

Dental Practices

Although many dental practices remained open, for emergency appointments only. They were hit financially for three months, as all routine appointments were cancelled and rearranged. When they could reopen for routine appointments, with Covid-19 measures in place, not everyone was comfortable with returning to see their dentist. 

Pharmacies

Our community pharmacies have remained open, key workers, who have done an incredible job in keeping their communities safe.

Domiciliary Care Agencies

In some cases, domiciliary care has been a lifeline for those in need of support at home, but others who were self-isolating have cancelled care appointments, leading to a very patchy performance for dom care agencies in lockdown.

What happened?

During April, May, June half of our corporate and commercial property teams were furloughed. We completed on one corporate deal. The phones did not ring, we thought our emails had broken, after receiving very little. New business was a distant memory.

Yes, we were starting to panic. But then, overnight (is how it felt) our “bounce back” began…

In July, most of the team returned from furlough on reduced hours, the phones rang (a lot) we were winning new business and we were completing on healthcare deals again….

3 July – Purchase of a Nursery in Yorkshire

23 July – Sale of a Nursery in Cheshire

24 July – Purchase of two after School Clubs in Dorset

27 July – Purchase of a Domiciliary Care Agency in Warwickshire

27 July – Signed a contract for the Purchase of two Care Homes in Merseyside

31 July – Purchase of a Nursery in Hertfordshire

31 July – Sale of a Nursery in London

31 July – Purchase of a Pharmacy in the West Midlands

31 July – Sale of a Nursery in Surrey

July 2020 was one of our corporate department’s busiest months since launching in July 2017.  

Our team have managed, adapted, and coped incredibly over the last few months.

If you are considering selling or buying a business, our specialist corporate team led by Jas Singh can offer you expert advice and a competitive fixed fee quote.

jas@pickfordsolicitors.com

0121 726 4999

Looking for the right residential conveyancing solicitor in Birmingham can be a difficult task, but as a dedicated team, our aim is to take the stress off you and offer you the right advice and support so that the entire process will run smoothly.

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