Specialist business property adviser, Christie & Co is delighted to announce the successful sale of Ty Coch Nursing Home in Cardiff to Linc Cymru.
The directors of Passcrystal Limited instructed Christie & Co to discretely market Ty Coch to enable them to retire from the industry. Following a targeted marketing campaign, the directors elected to sell the care home to not-for-profit organisation Linc Cymru, which operates two other high quality purpose-built care homes in South Wales.
Ty Coch is located in the desirable suburb of Llanishen in North Cardiff. The care home is registered for 69 elderly residents and has planning permission to develop an additional 13 bedrooms.
Paul Clarke, director of Passcrystal, comments, “We are delighted to be able to secure a sale to an organisation which shares the same values as us when it comes to delivering high quality care. After nearly thirty years of running Ty Coch, it is pleasing to know that the staff and residents are in safe hands going into the future. We wish Linc all the very best at Ty Coch.”
Rob Smith, chief executive of Linc, comments, “The acquisition of Ty Coch presents Linc with an outstanding opportunity to expand our bed numbers in the vibrant city of Cardiff. Ty Coch has an outstanding reputation for good quality care and we look forward to working with the residents, their families and staff to build on the fantastic job Passcrystal have done over the years.”
Rob Kinsman and Martin Gould, directors in Christie & Co’s healthcare team handled the sale. Rob comments, “This transaction underlines the continuing demand for high quality healthcare assets throughout Wales. Despite the well publicised challenges surrounding the availability of staff and National Living Wage in the care sector, buyer demand remains very strong.”
Ty Coch was sold off an undisclosed price.
