Specialist business property adviser Christie & Co has completed the sale of Ridge House Care Home in Morchard Bishop, Devon for an undisclosed sum off a guide price of £950,000.
The detached, three-storey property, which provides residential care for 15 residents, was sold on behalf of Jon and Debbie Bradford to Zakir Shaikh.
Simon Harvey, Director of Christie & Co’s South West Healthcare team, said: “We were delighted to have assisted both parties in completing this transaction and wish them well with their respective plans. This home attracted significant interest from a wide range of buyers and continues to show the appetite that exists in the county and the wider South West for high quality, well run, profitable care homes in desirable locations.”
Gary Boyce, Director at specialist commercial finance broker, Christie Finance, who advised and brokered the funding to facilitate the purchase, added: “We are delighted to help Mr Shaikh and his family acquire their first care home. As new entrants into the sector, Ridge House and the quality of its manager and team represents the ideal purchase. Having secured strong funding support on their behalf, they are well placed and we wish them all the best with their new business.”
Jo and Debbie’s daughter Beth, who is the registered manager, will be remaining with her team at the service.
Mr Shaikh, who purchased Ridge House as a first entry into the care sector, said: “We are excited to work with Beth and the staff team, who are known to provide an outstanding service. Gary and Simon have also been extremely helpful throughout the business acquisition process and we won’t hesitate to use them in future.”