Capital Care Homes has bought the Ael Y Bryn care home in Swansea for £645,000 in a deal brokered by specialist business property adviser Christie & Co.
Capital was selected as the preferred bidder of the home in Cwmrhydyceirw, which has planning permission to extend its number of rooms to 40.
Rob Kinsman, director of Christie & Co’s Healthcare team, said: “Despite the recent implementation of the National Living Wage and ongoing staffing shortages in social care, the transactional market remains very buoyant.
“We have an acute shortage of available care homes and with interest rates remaining at historic lows, we see the current environment being ideal for existing operators to grow their portfolios.
“We are delighted to be able to work with Jayesh and wish him all the very best at Ael Y Bryn.”
Ael Y Bryn was sold on behalf of Cherish Care Homes Limited, which owns and operates five care homes in the region.
Capital Care Homes, which operates a home in Cardiff, made the acquisition with funding from Lloyds Bank.
Jayesh Mehta, director of Capital Care Homes, said: “The availability of Ael Y Bryn represented an outstanding opportunity for us to acquire our second care home in South Wales and we very much look forward to working closely with the staffing team, residents and their families.”