Thistle Court is a purpose-built care home dating from the 1990s, comprising 33 single bedrooms and two twin rooms. Offering nursing care for clients with dementia, it has traded well in recent years, maintaining consistently high-occupancy levels.
Situated in the residential district of Ty Canol, Thistle Court is conveniently location close to major bus routes and Cwmbran station. The city of Newport, with the Royal Gwent Hospital, is seven miles to the south, while major cities Cardiff and Bristol are also within easy access.
Christie & Co’s research shows there is a significant undersupply of bed spaces within 10 km of the home, demonstrating good demand for care facilities in the area and affording an incoming operator the potential to maximise the trading performance of the home.
In February 2019, the operating company of Thistle Court entered administration and it is currently being operated by Cornerstones on behalf of the Joint Administrators, David Shambrook and Tony Wright of FRP Advisory, who instructed Christie & Co to market the home.
Oliver McCarthy, Business Agent at Christie & Co, who is handling the sale, comments, “The availability of this home presents a good opportunity to acquire an established business currently trading with good referrals from the local health board and local authority in an area with high demand for its services.
“Thistle Court would suit an experienced regional operator, offering a high-quality, purpose-built property with an impressive trading history.”
Christie & Co is selling the freehold interest of Thistle Court for £1,300,000, to include fixtures, fittings and goodwill.
There are also 10 residential units for sale by separate negotiation, which benefit from excellent occupancy rates and generate a good rental income.