HC-One Ltd., U.K.'s largest operator of care homes for the elderly, is on the market for £1 billion, the Financial Times reported, citing sources familiar with the matter.

The decision was reportedly "to take advantage of increasing investor appetite for social care assets."

According to the sources, the care home operator has tapped Gleacher Shacklock LLP to help with the sale.

HC-One provides professional residential, nursing and specialist dementia care for older people in its 369 registered care homes. The company previously acquired 122 care homes from Bupa in a £300 million deal.