The home, which had been owned and operated by the Rigby family since the late 1980's, occupied a prominent position situated approximately mid way between the city centre and motorway. It was registered to provide accommodation for up to 24 elderly clients in 22 bedrooms and specialised in the care of residents with dementia.
The new owner has acquired the entire share capital in the limited company – Cavendish Care Home Limited – and plans to continue to build on the excellent reputation that the home has achieved under the previous owners.
The sale was handled by Simon Harvey, a Director of Christie & Co's South West Healthcare team and he comments, "We were delighted to have assisted the Rigby family in the sale of this home and wish the new owner, Steven Pinshaw well for the future.
“The sale and a number of others that are currently ongoing continue to demonstrate the demand for well located, profitable and well established care businesses across the South West with buyers and banks showing increased appetite to purchase profitable businesses in this sector. We look forward to a positive end to 2017 and beyond."
This transaction was concluded with a funding package from Barclays arranged via Steve Jenner at Chandler & Co with the sellers being represented by Harrison Clark Rickerbys and the purchasers by Windles Solicitors.