St David’s Residential Care Home in Rhyl has been acquired by new owners in a seven figure funding deal supported by Allied Irish Bank (GB).
The residential care home’s existing Registered Manager, Ruth Waltho, along with her husband David, have acquired the 48 bedroom care facility for an undisclosed sum.
Located in a stunning seafront setting on East Parade in Rhyl, St David’s provides 24 hour care for up to 52 elderly residents. The property has a total of 48 bedrooms, many of which have en-suite facilities. Three of the bedrooms are also suitable for dual occupancy.
St David’s is currently the largest residential home in North Wales and employs 40 members of staff. The property was originally built in 1904 as a preparatory school for boys and has also previously been used as a convalescent home for Yorkshire miners.
Following its acquisition, plans are now underway to improve and refurbish the care home, including the creation of two new bathrooms and a home cinema as well as general redecoration and renovation work.
Relationship Manager David Booth from Allied Irish Bank (GB) developed a seven figure funding deal to support Mr and Mrs Waltho with the acquisition of the nursing home.
Ruth Waltho, new owner of St David’s Residential Home, said:
“I am thrilled that our acquisition of St David’s has been successful. I have managed the home for four years now and know the business and our residents extremely well.
“We are planning to make some real improvements to the property for the benefit of our residents, improving the look and feel of their general surroundings and creating a new cinema room for them to enjoy.
“David Booth and the team from Allied Irish Bank (GB) have been a real support to us throughout the acquisition process and we have enjoyed working alongside them. The funding deal enabled us to make the purchase but their experience and guidance of acquisitions has also been incredibly beneficial.”
David Booth, Relationship Manager at Allied Irish Bank (GB) said:
“I am pleased that we have been able to support Ruth and David with their acquisition of St David’s Residential Home. Given Ruth’s long term involvement with the business and experience in the care sector it made perfect sense for them to buy the business. We wish them the very best success for the future.”