Specialist business property adviser Christie & Co has sold Somerforde Care Home in Newton Abbot to a first-time buyer.
The residential care home, which accommodates 24 residents, was sold on behalf of Somerforde Ltd directors Ken Grasby and Nicola Whitman for an undisclosed figure.
Simon Harvey, director of Christie & Co’s South West Healthcare team, said: “We are delighted to have assisted Ken and Nicola with the sale and wish them well for the future.
“This sale and a number of others that are currently ongoing show that activity in the south west care home market remains very positive, especially when we see new entrants coming to the area from further afield.”
Somerforde’s directors decided to sell the home after six years due to health reasons.
The acquisition of the home by an unnamed buyer was funded by RBS.
The purchaser was represented by Slee Blackwell in Barnstaple with the sellers being represented by WBW in Newton Abbot.
Somerforde was sold for an undisclosed figure having been marketed at a guide price of £1.8 million.
The care home overlooks Forde Park and is close to Newton Abbot town centre.