A successful 37 bed care home located near Yelverton in Devon has been sold to Nilesh Patel, in his first West Country purchase.
Registered to provide care for up to 37 clients, Moorgate Care Home occupies a period property which has been subject to considerable investment and extension. The home boasts formal gardens, sun terrace, and patios, as well as a five-bedroom staff house located to the rear of the site. Moorgate Care Home occupies a semi-rural location within Dartmoor National Park, midway between the West Devon towns of Yelverton and Tavistock.
Since 2004, the home has been owned by husband-and-wife team, Kevin and Noreen Shadrick, who recently decided to sell to retire. Following a confidential sales process handled by Christie & Co, the home has been purchased by new entrants to the local market, Nilesh Patel and his family. The family also own a care home in the Home Counties.
Kevin and Noreen Shadrick said: “We are delighted to have sold the home and we wish Nilesh and his family all the best and we know we have left Moorgate in very safe hands. We would like to thank Simon for his help and guidance throughout the sale process.”
Nilesh Patel said: “We were very excited when we first viewed Moorgate Care Home earlier in the year and even more thrilled when Kevin and Noreen agreed to sell the care home to us. Now that the purchase has been completed, we are looking forward to working with the management team, the staff, all the affiliated businesses, health care groups and local surgeries who help and support the care home in providing the highest level of care to our residents.”
Simon Harvey, senior director of care at Christie & Co, commented: “We were delighted to have been appointed by Kevin and Noreen to sell Moorgate, which is a high-quality business in an attractive and desirable location.
“This sale is further evidence of the strength of the market in the South West, especially for well-run, high-quality, and profitable businesses such as this one. Despite the challenges recent years have presented, we are still able to generate strong interest on a wide range of care homes that we are marketing and, with further sales due to be concluded between now and the end of the year as well as more in early 2023, we remain optimistic about appetite for care businesses in the region.”
