Care home provider 'to sell off properties after £500m funding blow'

The UK's largest care home provider is considering selling scores of its properties as it plans to trim its budget.

Four Seasons Health Care has seen a 5% reduction in fees over the last five years and is disposing of non-core properties that do not fit its long term strategy.

It announced during investor calls earlier this year that 23 properties have been identified as being available for disposal during this year.

Four Seasons reported in August how nine of these had been sold, for a total of £4 million, with remaining properties due to be sold during the year

The company, which cares for thousands of residents across its portfolio of homes, is facing a £500 million blow to its finances after Government spending cuts.