Specialist business property adviser Christie & Co has sold Castle Court Residential Home in Chepstow, South Wales to first time entrants to the care market.
Castle Court is a four-floor period property for 25 elderly residents, including en suite facilities.
Simon Harvey, Director of Christie & Co’s South West and South Wales Healthcare team, said: “We are delighted to have assisted the directors of EVH Limited in retiring from the care sector and wish the new directors well for the future.
“The market for care homes across the region remains positive with a wide variety of buyers seeking to acquire. This includes new entrants to the market and existing owners and operators who are looking to expand. With current activity levels the future in the sector looks to be a healthy one.”
The home, which has been purchased by Mr & Mrs Srishangaran, had been run by its directors since the mid 1980s.
The sale was completed with through funding secured by specialist commercial finance broker, Christie Finance.
Finance Consultant Jimmy Johns said: “I was delighted to help Mr & Mrs Srishangaran secure the best funding to acquire their first care home.
“At Christie Finance, we are currently seeing attractive lending rates and terms for both first time buyers and experienced operators alike.”