NABS sells Peterhouse care home in Bexhill to Agincare
NABS, the advertising and media industry’s charity, has announced it is to sell its care home Peterhouse.
The home in Church Street, Bexhill on Sea, will be owned and managed by leading care home provider Agincare.
NABS supports people working in the advertising and media industries and while demand for services is up 35% year on year, interest in Peterhouse as a care home for former industry members has declined.
NABS Chief Executive Diana Tickell, said: “Peterhouse has been a hugely important part of NABS for more than 50 years and has been a wonderfully happy home for hundreds of people.
“However, in recent years there has been a significant decrease in demand from within the industry for a NABS-run retirement complex. As a charity, NABS has a duty to make sure its resources are focused where the need is greatest and to spend our valuable donations in the most effective way possible.
“Agincare have an impressive track record in delivering high-quality care and we have absolute confidence that they will take Peterhouse from strength to strength, enabling it to run successfully for years to come.
“The proceeds from this sale will enable us to meet ever increasing demands and plan for the future by investing in new technologies and services to expand our reach and impact. We will also be able to invest in urgent and important projects like timeTo which has the goal of eradicating sexual harassment in our industry and our SHEPARD wellbeing work.
“This is a one-off payment and we must use it carefully to evolve NABS. This does not change our ongoing need for regular funding for our existing core services.”
NABS expects to receive £2.35m from the sale before costs.
Agincare have 30 years’ experience in providing care and have a number of homes, and related services, across the south of England.
Agincare Group CEO, Raina Summerson, said: “As soon as our Chairman Derek Luckhurst, and I, visited Peterhouse, we knew that it was a very special place. We are so pleased to become the new owners and we greatly look forward to working with the existing staff members and getting to know tenants, residents and visitors in the coming months.
“We aim to use our experience to further enhance the existing services benefitting not only the Peterhouse family, but the wider Bexhill community.”
NABS will continue to support beneficiaries at Peterhouse through a grant giving programme.
Specialist business property adviser, Christie & Co was appointed to confidentially market Peterhouse. John Harrison, Christie & Co Director, said: “We are delighted to have been able to assist NABS in finding a buyer with the right background and ethics to invest in the future of Peterhouse. Following strong interest and a selection process, Agincare stood out as a family- run group offering high standards of care and we wish them every success with their new addition to their care portfolio.”
For more information, please contact Laura Hicks.