Prominent East Devon care home acquired by REIT backed operators
Specialist business property adviser, Christie & Co has completed on the sale of Holmesley, a care home in Sidmouth, Devon.
Holmesley has 52 rooms, with 49 of them providing en-suite facilities, and stands in three acres of gardens. Our client, Steve Barber, made the decision to sell the purpose-built care facility in order to pursue retirement, after running the home for 20 years. The nursing home has been in existence for about 45 years and during that time it has, until recently, only had three different owners. Steve Barber and Trevor Gosling bought the property in September 2000 and spent the first 10 years or so improving and expanding it to provide accommodation for 55 residents in large, well-equipped rooms.
The business has been acquired by Sidmouth Care, a subsidiary company of Welford Healthcare Ltd, operated by Pete Madden. The organisation already owns several care homes and they intend on running the home to continue, as it has done for the past decade, to provide high quality care in a homely and peaceful environment. They will ensure that Holmesley continues to be a leading care home in East Devon, providing employment for its 65 staff. Pete commented “We are delighted to have completed the acquisition of Holmesley Care Home with the support of Christie & Co. It is a lovely home with a committed and caring team in a beautiful country setting. We are looking forward to implementing an exciting refurbishment plan to help the home to achieve its true potential.”
Simon Harvey, Director at Christie & Co handled the sale and comments, “We are delighted to have brokered this deal for our clients. The size and style of homes such as Holmesley are popular with new entrants and experienced operators seeking to grow their portfolios. This sale demonstrates the appetite from local and regional operators to acquire homes where their local presence can have a positive impact on the business moving forward.”
The seller was represented by Michelmores, the buyers by EMW law and the REIT by Travers Smith.