Talbot Court Nursing Home, located near Port Talbot in South Wales, has been sold by specialist business property adviser, Christie & Co.
The home has been owned and operated by Wendy Morris since the early 1990s, who has decided to retire from the sector. The buyer is a new entrant to the South Wales care market, Carehart Limited, whose directors, Ashraf Hameed and Dr Hasan, will oversee the day-to-day operation of the home.
The home itself is registered to accommodate up to 30 service users in 29 bedrooms. There are also plans to convert a neighbouring office building to provide additional bedrooms, whilst other recent improvements include various internal refurbishments and the addition of a new conservatory.
Simon Harvey, Director in Christie & Co’s South West healthcare team comments,
“We are delighted to have assisted Mrs Morris in her aspirations to retire and also pleased to welcome Carehart Limited to the sector.
“The sale of this home, along with a number of others in the South West and South Wales in particular, to a mixed profile of purchasers continues to show that demand for well-run care businesses remains very strong. We expect this to continue for the foreseeable future.”
Graeme Egan, Barclays Relationship Director, said:
“By really understanding the business and the industry sector, Barclays has been able to deliver a funding package to support this acquisition. A £1.5 million investment demonstrates both Barclays’ and our client’s confidence in the continued growth and success of the business, and the talented management team.”
The vendor was represented by Douglas, Jones, Mercer in Swansea and the purchaser by Rees Wood Terry in Cardiff. The freehold interest in the home was sold off a guide price of £1.5 million in a deal funded by Barclays Bank.