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Coleridge House, 234 Caxton Street, Derby DE23 1RJ

Property Highlights

• Purpose built care home

• Site measures approx. 1.38 Acres

• Trading with management in situ

• 40 single bedrooms arranged over

two storeys

• Owned and operated by the local

authority since its construction in

1971

• Registered with the Care Quality

Commission to provide care for up to

40 service users

• Scope to improve operational

performance.

For more information, please contact:

Coleridge House, DerbyProject Zinc

FOR SALE

Area Amenities

• Located in a residential area of

Derby, close to all major and local

amenities.

• Derby is a city and unitary authority

area in Derbyshire. It lies on the

banks of the River Derwent in the

south of Derbyshire.

• As at 2011 the population of Derby

was 248,700 (2011 Census).

• Derby benefits from extensive

transport links, such as; the M1

motorway link within Approx. 10

miles linking Derby southwards to

the London area and northwards to

Sheffield and Leeds.

TRADING CARE HOME

Gary Yeardley MRICS

Associate

+44 (0) 161 235 7675

Gary.Yeardley@cushwake.com

Cushman & Wakefield

1 Marsden Street

Manchester

M2 1HWAsking Price: £500,000

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and

same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the

property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Property

• Purpose built two storey care home constructed circa 1971

• Constructed of cavity brick, surmounted primarily under a

pitched tile covered roof with UPVC double glazing

• External grounds include garden areas and parking

• The property offers 40 single bedrooms arranged over two

storeys which are divided into four units

• Each unit has a communal lounge and dining area with

assisted WC’s and bathrooms

• Bedrooms are generally equipped with all appropriate

fixtures and fittings, including a wash hand basin vanity

unit

• Commercial grade stainless steel kitchen and commercial

grade laundry facilities

• Integrated garage for deliveries and storage

• The site will be subject to an area type Tree Preservation

Order

Coleridge House, DerbyProject Zinc

FOR SALE

Location

• The property is located on Caxton Street, Derby

• The immediate area is mainly residential

• There are a number of local amenities within the area

including public transport links, such as; Pear Tree

Railway Station approximately 1.2 miles from the property

• The property is approximately 3 miles south/south east of

Derby City Centre

• As at the 2011 census, Derby’s population was 248,700

• The M1 can be accessed approximately 10 miles west of

Derby, connecting south to London and north to Leeds

Care Quality Commission (CQC)

• The property is registered with the CQC to accommodate

up to 40 service users

• The property is a residential service, specialising in Caring

for adults over 65 yrs, Dementia, Physical disabilities and

Sensory impairments

• The most recent inspection, dated 28 June 2016 rates the

service as Good.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and

same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the

property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Coleridge House, DerbyProject Zinc

FOR SALE

Staffing

• There is a home manager employed on a full time

basis

• The manager is assisted by an assistant manager,

together with a number of senior carers, carers and

domiciliary staff

Residents & Occupancy

• The current occupancy is 1/40 (0.025%), although

this may be subject to variance

• The Council has decided to work with the residents of

Coleridge House and their families to relocate all

existing residents to alternative provision within the

City. The wellbeing of the residents is the Council’s

main priority and is working with families and

residents to find the best solution. The moves are to

help the Council manage its resources better, in

particular to ensure there is robust management and

leadership of the home. This decision was taken as

while temporary arrangements have been put into

place to address this, these cannot continue in the

long term.

• As a local authority owned and operated service, the

current business charges the current local authority

rate of £476.22 per week for residential care

Further Information

• Further details on trade, including staffing, statutory

matters and the property can be made available upon

the signing of Non-Disclosure Agreement

Conditions of Sale

• Transfer of the homes as a going concern including

meeting the requirements of the Transfer of

Undertakings (Protection of Employees) regulations

2006 (TUPE)

• Registration of the Purchaser (or its proposed

operator) with the CQC as an existing provider of

residential care for older people, with full disclosure

of ratings at all existing services, the level of which

will be taken into account when assessing the bids

• Confirmation of the financial stability of the Purchaser

to ensure its ability to provide continued care for the

existing residents at no additional cost to the resident

• Agreement to the Council’s Standard Terms and

Conditions for Residential Care

• Agreement for the provider to enter into Individual

Agreements with each resident of the care homes

• That the purchaser enters into an Admission

Agreement with Derbyshire County Council to

facilitate continued access to LGPS or a comparable

pension for existing Council employees at the homes

• Legal completion must take place within 3 months of

offer acceptance

• The purchaser is required to contribute towards the

vendors costs, at 1% of the purchase price

• VAT will not apply

• The Vendor is under no obligation to accept an offer

and reserves the right to invite further bids.

Offer Deadline

• Offers must be submitted by 26 January 2018

• Offers must be submitted in writing, by either post or email

• Offers must include the following information:

• Identification of the proposed purchaser (and provider if

different)

• Offer level

• Proposed timescale

• Any conditions attached to the offer

• Proof of funds

• Confirmation of legal advisors

• Outline of intended use/future plans for the property

• An overview of the purchaser’s experience in the care

home sector such as; details of assets already owned

and operated, together with information concerning

their relationship with the regulators (such as the CQC,

commissioning groups and local authorities).

• Demonstration of the providers ability to operate a care

provision on a good basis in terms of CQC rating.

• Confirmation that the perspective purchaser can

perform to the expected timescales, in terms of

exchange of contracts and legal completion.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and

same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the

property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Coleridge House, DerbyProject Zinc

FOR SALE

Cushman & Wakefield Debenham Tie Leung Limited ("C&W") gives notice to anyone who may read these particulars as follows:

1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any

part of an offer or contract.

2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation

of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order.

3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have

changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be

made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only.

4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a

statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser.

5. No person in the employment of C&W has any authority to make or give any representation or warranty whatsoever in relation to this property.

6. This property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT.

7. Unless otherwise stated, no investigations have been made by or on behalf of C&W regarding pollution, or potential land, air or water contamination. Interested parties are advised

to carry out their own investigations as required.

Floor Plans