Castlemanor Nursing Home and a selection of retirement units are for sale by private treaty, it was announced last week. The property is located just outside Cavan Town and is conveniently located just off the N3 motorway.
 
Castlemanor is now a well-established and successful 71 bed nursing home business easily accessible from all areas of Ireland. The home is being sold as a going concern and the sale offers investors and operators an opportunity to acquire a profitable and well run nursing home with ancillary and supporting facilities. In addition, there is an opportunity to acquire 29 two bedroom bungalows within an 89 unit retirement village alongside the home.
 
CBRE Healthcare have confirmed their instructions to offer Castlemanor Nursing Home for sale on the instructions of Mr Kieran Wallace of KPMG Receiver over Certain Assets of Desmond Murtagh (In Receivership).
 
Speaking last week, Cormac Megannety of CBRE Healthcare said, "This is one of only a few strong nursing home performers to come to the market in recent years. The possibility of acquiring new bed stock is foremost in the minds of most nursing home operators as they seek to satisfy the ever growing demand for bed spaces countrywide."

He added, "Castlemanor  presents in excellent condition, is very well managed and maintained and most importantly has shown strong profitability over the years. There is a total of 69 single bedrooms and only one double, all secured on a very high and workable Fair Deal rate.   Castlemanor also has the added attraction of having 29 two bedroom bungalows offered with it, which could be used for independent living, retirement units or step down facilities linked to the nursing home itself."

Source: www.businessworld.ie