Acting on behalf of the Quality Care Homes Group, specialist property adviser Christie + Co has sold Whitehaven Care Home in Midsomer Norton, Bath, to Gloucester-based ARTI Care Homes for an undisclosed sum.
The acquisition of the 23-bedroom property brings the number of care homes operated by ARTI to three, the others being Manor Farm House in Radstock and Avalon Residential Care Home in Gloucester.
Having owned and operated the care home for over 15 years, Quality Care Homes sold the business to focus on expansion closer to their Head Office in Bristol.
Christie Finance assisted Mrs Inthu Rajah of ARTI Care Homes with arranging specialist funding for the deal.
Finance Consultant, Gary Boyce, brokered a facility with Lloyds Bank to support the purchase. He comments: “We were pleased to assist Mrs Rajah throughout the buying process and source the right funding package to make this purchase possible. Working together we were able to overcome a number of challenges arising and secure highly competitive terms with a bank looking to support her immediate and future needs.”
Rob Kinsman, Regional Director at Christie + Co, says: “We are delighted to see the ownership of Whitehaven being transferred to Mrs Rajah who will maintain the same level of quality care provided at Whitehaven for such a long period of time”.
“Demand for care homes is stronger than it has been for years with new entrants, multiple operators and national corporates seeking to expand their portfolios. There are some very competitive funding packages available at the moment whilst interest rates remain at historic lows.”