Specialist business property adviser Christie & Co has completed the sale of Cavendish Care Home in Gloucester.
The home, which has been owned and operated by the Rigby family since the late 1980s, has been sold to new entrant to the care sector, Steven Pinshaw.
Simon Harvey, a Director of Christie & Co’s South West Healthcare team, said: “We were delighted to have assisted the Rigby family in the sale of this home and wish the new owner, Steven Pinshaw, well for the future.
“The sale and a number of others that are currently ongoing continue to demonstrate the demand for well located, profitable and well established care businesses across the South West with buyers and banks showing increased appetite to purchase profitable businesses in this sector. We look forward to a positive end to 2017 and beyond.”
Financing for the deal was provided through a Barclays funding package arranged by Steve Jenner at Chandler & Co with the sellers being represented by Harrison Clark Rickerbys and the purchasers by Windles Solicitors.
The Gloucester home, which specialises in dementia care, serves up to 24 people.