Asheborough House in Saltash, on the Devon and Cornwall border, has been purchased by Ashville Residential Home Ltd.
Asheborough House occupies a 27-bedroom Grade II-listed detached property on the outskirts of Saltash and is registered for up to 31 residents.
For the past 15 years, the business has been owned by Lizzie Waters, who has decided to sell Asheborough House to focus on operating her remaining home, Waters Park House in Plymouth.
Following a confidential sales process with Simon Harvey at Christie & Co, the home has been purchased by Ashville Residential Home Ltd, which owns Orchard Lea in Cullompton. Ashville Residential plans to expand Asheborough House in line with existing planning permission to add another 20 bedrooms.
Simon Harvey, senior director – care at Christie & Co, said: “We were delighted to have assisted Lizzie in this sale, helping her move towards eventual retirement from the sector. This sale, like many others, proved to be challenging given the financial market last year but, pleasingly, it is now another successful completion and continues to illustrate the interest that we’re seeing for care homes in the South West and the appetite for a wide range of opportunities as, once again, bids were received from multiple parties on this care home. Following the Christmas and New Year breaks where things were inevitably quieter, we are seeing activity levels increase again, and anticipate another busy year for care home transactions.”