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Supported accommodation

Reference
S11732
Turnover
£1m to £2m
Sector(s)
Education, Health & care, Service industries
Region(s)
South East England, South West England
Added
17 June 2024

Business description

With a wealth of expertise and knowledge in supporting vulnerable young people, Project Aster has built an exceptional reputation for the provision of support, guidance, education, and accommodation for care-experienced children and young people across southern England.

Committed to helping young people develop the practical and emotional lifelong skills they need to live independently, the company offers a variety of support models in either shared or independent accommodation.
The business can provide its services to children and young people who require accommodation and support, such as looked-after children, unaccompanied asylum-seeking children, young offenders, and young people with disabilities and mental health issues.
Having built a highly reputable organisation, our client is now offering the
company for sale to facilitate growth under the impetus of new ownership.
Offers invited.

Highlights

  • Heavily involved in the consultation with Ofsted for the regulation of
    supported accommodation, creating a high barrier to entry. 
  • 25 block beds and 19 call-off beds with a local council, with two new block beds currently in process and two block beds under negotiation. 
  • 14 beds utilised by other local authorities. 
  • Currently approved with a London framework as well as local authorities in Surrey, Bracknell, West Sussex, Dorset, Somerset, Portsmouth, Southampton, Bournemouth, Christchurch and Poole. 
  • Highly trained and dedicated workforce in place led by an experienced secondtier management team. 
  • Operates from leasehold office premises. 
  • Passed stage two of recent Ofsted regulations.

Financials

Turnover (£'000) Adjusted EBITDA (£'000)
2020 (Actual) 1,484 428
2021 (Actual) 2,585 414
2022 (Actual) 1,419 319
2023 (Actual) 1,474 354
2024 (Forecast) 1,717 505
  • YE23 turnover of circa £1.5m.
  • Adjusted EBITDA of £354k achieved within the same year. 
  • Forecast figures indicate a turnover in excess of £1.7m for YE24, with an adjusted EBITDA of £506k. 
  • YE25 projections of £1.9m, with an adjusted EBITDA of approximately £605k.
  • 90% of turnover derives from various local authorities, with the remaining 10% obtained via housing benefit and universal credit. 
  • Block bed contract in place with a local authority, ensuring reliable streams of ongoing revenue regardless of occupation levels.

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