Devon care home sold to first-time buyer

The sale of the attractive care home in a popular, semi-rural location with main 'A' road access to numerous nearby towns and cities represented an excellent chance for a wide range of potential purchasers due to the strong staff and management structure in place.

The home has been sold on behalf of Paul Ewer of Crocus Care as part of his plans to retire from the sector. Paul has owned the property for over 20 years, having first acquired a care home in 2001. Paul comments, “It has always been a pleasure to work with Simon, and we have kept in touch over the years, where he has been a source of good advice. There were occasional bumps with this transaction and Simon worked diligently with all parties to assist.”

Following a confidential sales process with Simon Harvey at Christie & Co, it has been sold to first-time buyer, Ollie Page. Ollie comments: “As a first-time buyer entering the care sector, I'm honoured to be entrusted with continuing the excellent care that Red House is known for. My primary commitment is maintaining and building upon the quality of care that Red House has built its reputation on over the past 20 years under Paul's stewardship. With my background in the technology sector, my focus will be on using technology to free up and enable our staff to spend more quality time with residents, building meaningful relationships and providing genuinely personalised care. By upgrading the back office, we can ensure that human connection in the front of house remains at the heart of what we do at Red House.”

Simon Harvey, Senior Director - Care at Christie & Co comments, “Having been involved with Paul since selling him one of his first care homes in 2001, I was delighted to have been chosen to act on his behalf in the sale of The Red House and to have achieved a successful outcome.  I’m equally pleased for Ollie as knowing how hard the first acquisition can be, it is always positive to see another new entrant acquiring a care home in Devon and I wish him well for the future.

“This transaction along with so many others that Christie & Co has been involved with over the past couple of years continues to evidence the strong demand that exists for care homes across the South West and despite wider challenges, the sector and those within it remain resilient and as a result, the transactional market is very active.”

Christie Finance funded the sale, Broker, Ashley Clements, comments, “It was a pleasure to work with Ollie on the purchase of his first care home. This transaction did not come without its bumps but it shows how integral it is to have a solid deal team in place such as a finance broker, experienced solicitor and accountants to ensure that these things can be addressed quickly and with the correct advice to our client. Ollie had his fingers on the pulse at all times which was refreshing to see! I wish Ollie and his family all the best with this purchase as they start on the path of care home ownership and look forward to working with them on future purchases.”

For further information on this press release, contact:
Phoebe Hill, Associate Director – Corporate Communications
P: 07540 063 598 or E: phoebe.hill@christie.com

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