Ashley House is a 23 bedroomed, old style care home spread over three floors which sits on over an acre of land. The home historically traded well but recently has reduced occupancy levels. Sitting in a prime site on the outskirts of the village of Shalford, the care home was ripe for development.
Acting on behalf of the site’s buyers, Barwood Capital
and Perseus Land & Developments
, Christie & Co approached the vendor and an off market and confidential deal was agreed on an unconditional basis. A planning application has recently been submitted to replace Ashley House with a high quality, purpose-built 60-bedroom care home, which will provide much-needed residential, dementia, respite, and palliative care for local people.
Andrew Barlow, Director and Head of Asset Management at Barwood Capital, said, “We identified the care home and retirement living sector as one where there are opportunities to invest with the social benefits of improving senior living accommodation within local communities. This property is in a strong, well-connected location, where demand for care home space is high. Perseus’ ability to identify such acquisitions through its network is impressive. Despite the challenges being faced with the Covid-19 crisis, we maintain our commitment to play a part in providing investment and regional jobs.”
Duncan Ford, Managing Director at Perseus Land & Developments, added, “We are delighted to have acquired this site. This acquisition resulted from some good, old fashioned ‘door knocking’, which is a lost art among many developers, but one which we still value”.
Charles Phillips, Director at Christie & Co, who handled the sale, comments, “It has been a pleasure acting for Barwood Capital and Perseus in the purchase of Ashley House. Having known the owners of Ashley House - Penny and Colin McKenna - for a number of years, we were delighted to introduce the buyers to them who made the process as smooth and quick as possible. Being able to make an offer on an unconditional basis in the current climate was a huge benefit to agreeing the deal. This sale shows that, despite Covid-19, deals in the care sector continue to reach completion. After 30 years of owning and operating Ashley House, we wish Colin and Penny a well-deserved retirement from the business and hope all goes smoothly for Barwood Capital and Perseus with the planning applications and future build.”
Ashley House Care Home was sold off an undisclosed price.
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