New owners for long standing Devon care home
Ridge House Care Home in the village of Morchard Bishop, Devon, close to Dartmoor National Park, has changed hands in a sale managed by specialist business property adviser, Christie & Co.
The detached, three storey property has undergone extensions to provide a well-proportioned and high quality residential care home registered for 15 residents, all in single bedrooms arranged across two floors, almost half with ensuite bathrooms and the ground floor rooms fitted with patio doors to the garden terrace. Stair lifts offer access between the ground and first floors, with the top floor comprising three bedroom owner’s accommodation.
In operation for 30 years, the highly regarded care home enjoys a picturesque location in the Devon countryside, with views across the sweeping landscape and in close proximity to the nearby town of Crediton which offers a number of shops and services, plus easy access to bustling Exeter via the main road.
Having run the home for 15 years, the previous owners Jon and Debbie Bradford sold Ridge House, by way of a transfer of shares in the operating company, in order to pursue other interests. Their daughter Beth, who is the registered manager, and the staff team will be remaining to provide continuity and the high standards of care the home is known to provide. Jon and Debbie would like to wish Zakir, Shirin and their family continued success in their new venture at Ridge House.
The new owner, Mr Zakir Shaikh, purchased Ridge House as a first entry into the care sector and comments, “Shirin and I are experienced landlords operating in London and the purchase of Ridge House has given us the perfect opportunity to now enter the care sector. We are excited to work with Beth and the staff team, who are known to provide an outstanding service. Gary and Simon have also been extremely helpful throughout the business acquisition process and we won’t hesitate to use them in future.”
Commenting on the sale, Simon Harvey, Director of Christie & Co’s South West Healthcare team comments, “We were delighted to have assisted both parties in completing this transaction and wish them well with their respective plans. This home attracted significant interest from a wide range of buyers and continues to show the appetite that exists in the county and the wider South West for high quality, well run, profitable care homes in desirable locations.”
Gary Boyce, Director at specialist commercial finance broker, Christie Finance, who advised and brokered the funding to facilitate the purchase of Ridge House Residential Care Home comments, ‘We are delighted to help Mr Shaikh and his family acquire their first care home. As new entrants into the sector, Ridge House and the quality of its manager and team represents the ideal purchase. Having secured strong funding support on their behalf, they are well placed and we wish them all the best with their new business.”
Ridge House was sold for an undisclosed sum off a guide price of £950,000.