Castle Court Residential Home in Chepstow has been sold to a first time entrant to the care market; the sale was completed by way of a transfer of shares in the trading company, EVH Limited.
Castle Court is an impressive period property with accommodation over four floors that is registered to accommodate 25 elderly client in 24 bedrooms of which 19 have their own en-suite facilities.
The home had been run by the outgoing directors since the mid 1980s and the new owners, Mr and Mrs Srishangaran, are first time entrants to the sector from the South East. They will seek to build on the excellent reputation that the home has achieved and will maintain its position as one of the most respected and well regarded homes in the area.
Simon Harvey, director of Christie & Co's South West and South Wales Healthcare team, which handled the sale, comments: "We are delighted to have assisted the directors of EVH Limited in retiring from the care sector and wish the new directors well for the future. The market for care homes across the region remains positive with a wide variety of buyers seeking to acquire. This includes new entrants to the market and existing owners and operators who are looking to expand. With current activity levels the future in the sector looks to be a healthy one."
This sale was completed with funding secured through specialist commercial finance broker, Christie Finance. Jimmy Johns, finance consultant, says, "I was delighted to help Mr and Mrs Srishangaran secure the best funding to acquire their first care home. At Christie Finance, we are currently seeing attractive lending rates and terms for both first time buyers and experienced operators alike."
The sale of this care home further demonstrates the demand for quality care homes across the South West region with buyers showing increased appetite to purchase profitable businesses in this sector.
