29 January 2016 | Care

Grovewood Residential home sold to north american buyers

Grovewood Residential Home, a 32-bed care home in Birkenhead, has been sold to a first time buyer through local specialist property advisor, Christie & Co.

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The home, which was established in 1986, is registered for 32 service users. Having attracted interest from a number of parties, the sale was agreed to first time buyers from North America and was sold with its existing management structure in place.
 
Gary Yeardley, Associate Director in Christie & Co’s Manchester office who handled the sale comments: “At their own admission, our clients were overdue retirement.  It is always very rewarding to assist a well-earned retirement sale and equally as rewarding to assist first time buyers taking their first steps into the sector.

“There is currently a strong appetite for care and rest home facilities in the region. We are seeing an increase in enquiries from existing operators, as well as those who are new to the sector, and we expect this level of demand to continue.”

Former owner Mrs Pat McArdle comments: “We are very happy with the purchasers and think they have the right attitude to continue with the business.”

Craig Dickson of Christie Finance who arranged funding on behalf of the buyers commented: “We were delighted to secure highly competitive funding terms for our clients. Supported by a keen lender as well as the existing management team, we are sure that the new owners will help take the business forward and maintain the excellent reputation the care home has in the local community.”