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06 December 2019 | Care

Hampshire care home sold to first time care home buyer through Christie & Co

Specialist business property advisor, Christie & Co has completed on the sale of The Farmhouse care home in Totton, Hampshire on the edge of the New Forest National Park.

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The Farmhouse care home is a Grade 2 listed property which is registered for 20 in the categories of Old Age and Dementia and comprises 14 single and three twin bedrooms, all of which have en suite facilities.  The home presents well and trades with high levels of occupancy, the property has been extended over the years and upgraded and refurbished by the vendor.
 
An open and full marketing campaign was undertaken attracting interest from first time care home buyers, investors and property developers.
 
Previous owner Richard Kitchen comments, “It was a tough decision to sell three of my four care homes and it has been a pleasure working with Charles at Christie & Co with the marketing of my homes. This is the second of my care homes to have sold recently through Christie & Co and I am delighted to be passing the business onto the new owners. The Farmhouse is a very special home and I hope the business will continue to thrive under new ownership.”
 
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New owners Dave and Sally Price are first time care home buyers. Sally comments “I have been managing care homes for a number of years and we decided the time was right to step up and become owners. The Farmhouse is an ideal care home for us and we are looking forward to getting to know the staff, residents and their families and working with them to improve the care home. Both Christie & Co and Christie Finance provided support and advice throughout the process and we would recommend their services to others.”
 
Charles Phillips, Director at Christie & Co’s Winchester office handled the sale and adds, “Having recently completed the sale of Lavender House Care Home in Southampton for Richard, we are very pleased to have concluded the sale of The Farmhouse for him as well. Although Dave and Sally Price are first time care home buyers, Sally has been involved in the sector for several years and we wish them all the best in their new venture. The sale of this home shows that all sizes of care homes are in demand and we have a strong database of potential purchasers looking for similar properties.”
 
Emma Vanson of Christie Finance who sourced funding for the new owners comments, “Although obtaining funding for this size of care home can be tricky, due to Sally’s background in the care sector, we were able to obtain interest from a number of lenders who were eager to support the purchase. It was a pleasure to support Sally in arranging funding. I am confident that she and Dave will do very well at the home.”
 
For further information on this press release, contact:
 
Fiona Fieldhouse, Head of Corporate Communications
P: 020 7227 0793 or E: fiona.fieldhouse@christie.com

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