10/16/2018 | Care

Newton Abbot care home sold to first time buyers through Christie & Co

Specialist business property adviser, Christie & Co has sold The Croft, a residential care home situated just outside of Newton Abbot, Devon, to first time entrants to the care sector.

The property, a detached Victorian villa, was extended in 2008 and underwent a programme of improvements over recent years by the previous owner, with the home now of a high quality throughout with modern fixtures and fittings. Registered for 22 residents, The Croft comprises 19 bedrooms, a mix of single and double with the majority providing en suite facilities, set out across four floors with lift access, plus a residents’ lounge and dining room. Additionally, there is on site parking and gardens to the front and rear of the property.

Occupying a picturesque location, accessible via the main road A380, the home offers a quiet setting for residents close to the rural town of Newton Abbot on the scenic River Teign. 

Previous owner, Ms Cheryl Howe decided to sell The Croft in order to retire, having operated the care home for over 14 years. 

The Croft has been bought by experienced businessmen, Simon Spiller and David Tait, as their first purchase in the care sector, who have promoted the existing Deputy Manager to Registered Manager in order to continue the smooth operation of the home. They comment, “We’ve every confidence we’ve acquired a home which delivers excellent care for residents with various stages of dementia.  Even with many years of business experience in other sectors, entering the Care sector is certainly a challenge for us.  But, we are reassured that the experienced team at The Croft is well equipped to continue the high standards established by the previous owner."

Simon Harvey, Director at Christie & Co who handled the sale, comments, “I am pleased to have worked with Cheryl and helped her with the sale of The Croft so that she could enjoy her retirement. It was a pleasure to have assisted Simon and David in acquiring their first care home and hope that it is the first of many acquisitions by two very capable new entrants. I am sure that the business will go from strength to strength.

“Care homes are valuable assets to operators and in their local communities and it has been a pleasure to facilitate the smooth transaction of the business to ensure the quality and continuity of care for its residents.”

The freehold interest of The Croft was sold off an asking price of £995,000.

South West-based Kitsons Solicitors acted on behalf of Ms Howe and Ashfords LLP assisted on behalf of Mr Spiller and Mr Tait.