New owner for care home in picturesque Suffolk village
Specialist business property adviser, Christie & Co, has announced the sale of The Briars Residential Care Home in Glemsford, Suffolk.
The Briars is a well-established residential care home that is registered for 17 residents and occupies a period property with substantial, modern extensions. The home is located on a main road in the picturesque Suffolk village of Glemsford, between a convenience store and a social club.
Following a confidential sales process with Rosie Turner at Christie & Co, and with funding sourced through Ashley Clements at Christie Finance, the home has been purchased by existing operator, Kay Naidoo, who has another home in the region.
Rosie Turner, Senior Business Agent – Care at Christie & Co, comments, “I am delighted to have worked on the sale of The Briars which has enabled the owner to sell after years of dedication and hard work. We ran a confidential marketing process which received a good level of interest due to the home’s profitability and CQC rating. The buyer, Kay, stood out due to his experience within the sector and locality to the home. I look forward to seeing Kay grow his group.”
“This is another great example of the demand that exists for smaller homes and highlights the importance of using the right funders, brokers, and solicitors. This deal ran extremely smoothly, and we turned it around in a great timeframe. While there are additional challenges within deals, such as the interest rate rises and wider economic factors, signs still point towards a positive outcome for smaller going concerns within the region."
Ashley Clements, Finance Consultant at Christie Finance, comments, “It was a pleasure working with Kay to secure a competitive funding package for his latest acquisition in the care sector. The funding market can be challenging when expanding your business, with lenders having repositioned their appetite/policy in recent years. Our whole-of-market approach allowed me to source a selection of offers for Kay to consider, which was a key part of the process of finding the right lender. From a lender’s perspective, there is still very much a focus on experience in the sector, direct or otherwise.”
The Briars Residential Care Home was sold for an undisclosed price.
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For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: phoebe.burrows@christie.com
Contact the agent:
Rosie Turner, Senior Business Agent – care
P: 07703 716 156 or E: rosie.turner@christie.com
Contact Christie Finance:
Ashley Clements, Finance Consultant
P: 07714 138 984 or E: ashley.clements@christiefinance.com
Visit Christie & Co’s Business Search page to find out more about current listings.
