Druces LLP has advised Pickstock Group on the £7.1million sale of 75-bed St Martin’s Grange Care Home to Blackrock, one of the world’s pre-eminent asset management firms (advised by BLP). Other advisers on the deal included CBRE who advised Pickstock Group on the property aspects. The care home is let to Care South on a full repairing and insuring lease which has 34 years to run.
The Druces team was led by Christopher Axford, partner and head of the firm’s healthcare team, and included Nicholas Brent, partner, advising on the property issues and Caroline Cropley, senior associate, assisting on corporate aspects of the deal.
Health and social care is a primary sector for Druces and that is recognised by leading legal directory, Legal 500, who note that Druces ‘…is known for its focus on the care sector’. The firm’s healthcare group is made up of lawyers who are passionate about helping a broad range of clients in an industry that is experiencing significant growth and subject to ever more complex regulation. Druces’ healthcare team comprises individuals from our corporate and commercial, litigation and dispute resolution, property, and restructuring and insolvency teams and acts for many operators, owners, investors, banks and other lenders.
This news was posted on 21 July 2016.