Specialist business property adviser Christie & Co has completed the sale of Glyn Thomas Care Home in Immingham, North East Lincolnshire.
The service for the elderly and those living with dementia was acquired by LeongENT Ltd.
Owner of LeongENT Ltd, Dr Paul Leong, said: “Glyn Thomas is a thriving 32 bed care home with an excellent reputation and it is hoped that the care home will extend to a 45 bed facility in the future.”
LeongENT Ltd owns a care home in Boston, South Lincolnshire, an 80 bed care home development site and a 45 unit extra care retirement facility in Peterborough.
Jonathan Wickens, Director at Christie & Co, who handled the sale, said: “Local authority fee levels and staffing, in terms of recruitment and retention, are both issues which continue to dominate the care sector. Ongoing public sector pay constraints may attract more staff from the NHS into the private care sector, and there is likely to be a sharper focus on high quality management teams.
“The number of homes in financial distress remains an issue, driven by a combination of ageing stock, high-pressured margins and robust enforcement of statutory regulations, which is likely to continue throughout the year.
“Despite these factors we have seen a strong start to 2018 with sales completing across the Yorkshire region. Demand continues to grow unabated for quality and well performing facilities, such as Glyn Thomas House and we wish Dr Leong every success in his new venture.”