Southlands Court Residential Home in North Devon has been sold to a new entrant to the care home market.
Specialist business property advisor Christie & Co announced the sale of the home previously run by Mr and Mrs Goaman this week.
Jonathan Southgate, business agent in Christie & Co’s Exeter office who handled the sale said: “We are delighted for both the seller and purchaser of this well-regarded care home.
“With this transaction we see the continued appetite from the banks to support the south west region’s healthcare businesses despite the current economic and political uncertainty. Furthermore, the increase of first-time buyers entering the care home market demonstrates a renewed interest in the care sector.
“We received multiple offers at the point of sale with the applicant successfully obtaining funding with the assistance of Christie Finance.
“The sellers of the home are now free to retire from the care industry, and the new owner will take the helm of this successful Devon care home. We wish them all the best.”
Christie & Co said the new owners were expected to relocate to the area with their family from the home in the south-east.
The deal reflects strong demand for care home properties in the south west which has seen a string of recent deals (see Christie & Co sells Devon care home).