Established Manchester care home sold to local Accountant
Specialist business property adviser, Christie & Co, has announced the sale of Blackrod House care home in Manchester.
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Blackrod House is a ‘Good’ rated care home registered for up to 30 residents. It occupies a 28-bedroom Edwardian detached property that was converted to care use in 1987. The home has been maintained to an excellent standard and offers a pleasant, personal, and homely feel.
It has been owned by Stuart and Irene Burton since 2007. The pair recently decided to sell to pursue retirement.
Following a confidential sales process with James Knight at Christie & Co, and with funding sourced through Alena Ray at Christie Finance, the home has been sold to accountant, Vipul Patel, who was looking to diversify into the healthcare sector.
Stuart and Irene Burton, former owners of Blackrod House, comment, “Since acquiring the home in 2007, we have maintained our philosophy of providing individual care for the elderly, which has included two extensions to provide a dementia-friendly environment for those in need of this specialised area of care. We have now reached retirement age, so decided that the time was right to sell the business.”
James Knight, Associate Director – Care at Christie & Co, comments, “I’m delighted to get the sale of Blackrod House completed on behalf of Stuart and Irene. They are great people and have run a superb home over the years; fully deserving their retirement. I was delighted to be instructed to handle the sale and quickly found a strong interest in the home. There continues to be a good appetite for centrally located well-run and profitable care homes across the North West, whereby demand still outstrips supply by some distance.”
Alena Ray, Director at Christie Finance, comments, “It was a challenging process to secure funding for the acquisition of Blackrod House as Vipul is a new entrant in the sector with no direct care experience. A whole-of-market approach was vital in securing a competitive funding offer for buyers that aligns with their short to long-term aspirations. I wish Vipul and his team all the success and look forward to working with him on future acquisitions.”
Blackrod House was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com
Visit Christie & Co’s Business Search page to find out more about current healthcare listings.