Southampton care home sold to first-time buyer through Christie & Co
Specialist business property adviser, Christie & Co, has completed on the sale of Holmhurst Care Home, a well-established specialist care home in Southampton, Hampshire. The sale was funded through Christie Finance.
Holmhurst Care Home is a large detached two-storey dwelling with a single-storey extension to the rear. The care home is registered for 16 service users in the category of Mental Health, and benefits from 12 single and two twin bedrooms. The property presents well and had been regularly updated and refurbished since it was purchased by its previous owner, Ms Sue Boyes, in 2005.
Ms Boyes comments, “I have enjoyed owning Holmhurst Care Home and looking after the residents, however, I decided it was time to retire and instructed Christie & Co to market the business for me. Although the process has taken a bit longer than expected, in part due to Covid-19, I am delighted to have achieved a sale and believe the new owners will continue to run the business successfully.”
Holmhurst has been sold to a first-time care home buyer, Dr Arti Patel, who comments, “We are thrilled to have completed the purchase of our first care home and look forward to working with all those involved in the business. It was the specialist nature of Holmhurst that drew us to it, and we are looking forward to carrying on Sue’s good work.”
Charles Phillips, director at Christie & Co, who handled the sale, adds, “We are so pleased for Sue to have completed on the sale of her business during the pandemic. This sale shows that there is still demand for care homes and that interest to enter the sector is still being expressed by first-time entrants, such as Nick and his colleagues. We wish them all the best in the future, and wish Sue a happy retirement.”
Chris Field, director at Christie Finance who secured the funds for the deal, comments, “It was an absolute pleasure to help Arti and Marc with their first care home acquisition, which has been meticulously planned over a number of months. They are supported by their very close respective families, who have a wealth of experience as doctors and care home nurses, and are the perfect fit to take charge of Holmhurst.
“This is the first care home in their portfolio, and we are already working on number two. Securing funding can be tricky in the current market but, thanks to our excellent buyers, our chosen funding partner was quick to invest in their ideas, acumen and future plans.”
Holmhurst Care Home was sold at an undisclosed price.
