Specialist business property adviser Christie & Co has announced the sale of Bridge House Care Home in Gwent, South Wales.
An established residential and dementia care home registered for 36 residents, Bridge House occupies a three-storey purpose-built property with two separate wings comprising 34 single rooms and one twin room.
Owner Nanji Parbat decided to sell Bridge House in order to return overseas and spend more time with his family. Following a confidential sales process managed by Christie & Co, the home has been sold for an undisclosed price to experienced operator Saroj Jakhu, who owns Pen-y-Bont Care Home in South Wales as well as three other care homes in the Midlands.
Saroj Jakhu said: “I am really pleased to have expanded my Welsh portfolio with the acquisition of Bridge House. I look forward to building on Nanji’s success, and further improving the quality and level of care at the home.”
Oliver McCarthy, associate director at Christie & Co, commented: “It was a pleasure to sell Bridge House for Nanji, this time to allow him to relocate and enjoy more time with family. Seeing Saroj’s current homes, it’s clear that he will take Bridge House to further success, and I wish all parties the very best.
“Due to the difference in regulation between CIW and CQC, there is a generally little cross over between residential care operators in Wales and those in England and Scotland. Coupled with a lack of supply of new purpose-built homes, there is generally less competition in the Welsh market, so occupancy levels remain strong. In the short-term, this benefits local providers who aren’t competing for residents but, in the long-term, bed supply may become an issue, which leaves an interesting opportunity for buyers considering registering with CIW and crossing the bridge.”
