Pegasus Retirement Homes sold to RBS
08 July 2008
In May 2007 RBS completed a successful management buyout of Pegasus Retirement Homes and will become their new development partner.
The retirement home company has a new facility of £137 million to buy and develop sheltered housing sites across the UK.
The transaction was underpinned by valuations of existing stock and landbank prepared by King Sturge.
The valuations were required within a relatively tight timescale and were prepared by the Healthcare / Senior Living Team within the Bristol office. In total 41 sites were inspected and valued with a combined GDV of circa £300 million and a Market Value of £130 million.
Pegasus is aiming to increase their turnover from £40 million per annum to £100 million with King Sturge confirmed as their retained valuer.
