20 September 2016 | Care

First-time buyer acquires established Devon care home

Somerforde Care Home in Newton Abbot, Devon has been sold by specialist business property adviser, Christie & Co.

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Ken Grasby and Nicola Whitham, Directors of Somerforde Ltd, acquired the home in early 2010 and quickly established it as a leading residential care home in the town. Having operated it for over six years, they have decided to sell the home due to health reasons.

Somerforde is an attractive period building which overlooks Forde Park and sits within close proximity of the town centre, railway station and A380. It is registered to accommodate 24 clients in 22 bedrooms, of which 18 have their own ensuite facilities.

Simon Harvey, Director of Christie & Co’s South West Healthcare team who is handling the sale comments, “We are delighted to have assisted Ken and Nicola with the sale and wish them well for the future.

“This sale and a number of others that are currently ongoing show that activity in the South West care home market remains very positive, especially when we see new entrants coming to the area from further afield.”

The acquisition was funded by RBS and the purchaser was represented by Slee Blackwell in Barnstaple with the sellers being represented by WBW in Newton Abbot.

The business was sold for an undisclosed figure having been marketed at a guide price of £1.8 million.