Specialist business property adviser Christie & Co has announced the sale of Ty Coch Nursing Home in Cardiff to not for profit organisation Linc Cymru.
Previous owners Passcrystal Limited instructed Christie & Co to market the property after deciding to retire from the sector.
Rob Smith, chief executive of Linc, said: “The acquisition of Ty Coch presents Linc with an outstanding opportunity to expand our bed numbers in the vibrant city of Cardiff.
“Ty Coch has an outstanding reputation for good quality care and we look forward to working with the residents, their families and staff to build on the fantastic job Passcrystal have done over the years.”
Ty Coch, which is located in the suburb of Llanishen in North Cardiff, is registered for 69 elderly residents and has planning permission to develop an additional 13 bedrooms.
Christie & Co director Rob Kinsman, who handled the sale along with Martin Gould, said: “This transaction underlines the continuing demand for high quality healthcare assets throughout Wales.
“Despite the well publicised challenges surrounding the availability of staff and National Living Wage in the care sector, buyer demand remains very strong.”
Linc Cymru operates two other purpose-built care homes in South Wales.