Caerleon House Nursing Home in Newport sold to local operator
Acting on behalf of Administrators, Quantuma LLP, specialist business property adviser, Christie & Co, has announced the sale of Caerleon House Nursing Home in Caerleon, Newport.
Quantuma were appointed as Administrators in August 2019 and have overseen the running of the Caerleon House for over a year. The care home has traded successfully despite the Covid-19 pandemic, with ongoing investment and direction from Quantuma and the support of a long-standing and loyal staffing team.
Caerleon House is located in the heart of the village of Caerleon and is registered for 54 clients in an original Victorian period property, a converted office building and a purpose-built wing to the rear.
Amid strong interest from a wide variety of existing care home providers and investors, the care home was sold to Mr Bal Brainch and Mrs Bindu Brainch partnership group who also own Pentwyn House Nursing Home in nearby Marshfield, Cardiff, which they acquired through Christie & Co in February 2018.
Chris Newell, Managing Director at Quantuma and Administrator of Gwent Nursing Homes Limited, said, “We have been trading Caerleon House Nursing Home since being appointed as Administrators in August 2019. During this period, we have successfully turned the business around, improving occupancy and profitability. This has not only led to securing the long-term future of the business, but has also brought peace of mind to the residents, their families and staff during an otherwise uncertain time.”
“This is a huge success for all involved and we are delighted to have sold to the new owners who are well-positioned to take the business through its future endeavours.”
Commenting on their latest acquisition, Mr Bal Brainch said, “We are absolutely thrilled to complete this deal and we’re looking forward to working closely with the staffing team that have worked so hard throughout the current pandemic.”
Oliver McCarthy, Senior Agent at Christie & Co, comments, “We are delighted that Bal and Bindu have completed on their second nursing home through Christie & Co. The future of Caerleon Nursing Home is in safe hands and we have no doubt that, with their leadership and hands-on approach, the business will go from strength to strength.”
The deal was funded by Cynergy Bank. Blake Morgan represented Quantuma LLP and Elliot Mather represented the buyers.
Caerleon House Nursing Home was sold off a guide price of £2,550,000.
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