Hill House Nursing Home and Three Corners Nursing Home, both situated on the outskirts of the popular South Devon harbour town of Brixham, have been sold to Codess Sociale.
The introduction of Hill House and Three Corners nursing homes to the market represented an outstanding opportunity for a wide range of potential purchasers to acquire two high quality care homes, both of which are in excellent condition and are situated just two miles apart. The homes traded within the same limited company, Golfhill Ltd, and the overall business has seen year on year growth in trading performance.
The previous owners sold the shares in the company to overseas operator, Codess Sociale, for whom this was their first care business in the UK. They have a local, experienced team who will assist with the day to day operation of the business.
Luca Omodei, general manager at Codess Sociale, headed up the acquisition and comments: “In this new project of social care for elderly people in the UK, our hope is to bring an added value; the attention and Italian expertise in the management of residential care homes and social care services. This is just the beginning. Our intention is to develop the business in the coming years with our goal to accommodate at least 500 guests in our nursing homes in the United Kingdom.”
Simon Harvey, a director for Christie & Co’s Exeter office who handled the sale, comments: “We are delighted to have assisted the previous directors of Golfhill Ltd and wish them well with their future plans. We are sure that Luca and his team will continue to run the homes in similar fashion and hope that they enjoy many successful years in the South West care market.
“With demand still outstripping supply across a majority of the market, the appetite to acquire from experienced operators, equity groups and new entrants shows no signs of slowing. The market remains strong in the healthcare sector with Christie & Co’s transaction volumes increasing by an impressive 18 per cent last year.”
