Popular Dorset care home changes hands after 23-year ownership
Specialist business property adviser, Christie & Co, has completed the freehold sale of Two Cedars Residential Care Home in Broadstone, Dorset.
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Two Cedars is a CQC-rated ‘Good’ business that occupies a two-storey converted, extended property with 17 single, en suite bedrooms. The home benefits from a full-time manager and a dedicated staff team, many of whom have been there for a good number of years.
It has been under the same ownership for the last 23 years and was brought to market as a retirement sale.
Following a confidential sales process with Charles Phillips at Christie & Co, and with funding sourced through Neil Collins at Christie Finance, the home has been purchased by Mrs Vimla Heeroo owns two nearby care homes - Park Lodge in Poole and Abbey Rose in St Leonards.
Vimla Heeroo, the new owner of Two Cedars, comments, “I had been looking for another care home for a little while and when Christie & Co approached me about Two Cedars I felt this was a perfect fit. There are very good synergies between this care home and my two other homes, and I look forward to building on the good name Two Cedars has in its local area.”
Charles Phillips, Director - Healthcare at Christie & Co, comments, “It has been a pleasure selling this care home for the vendor after 23 years of ownership. We wanted to maximise the sale price and make it a smooth process for them, which we believe has happened via our confidential targeted marketing process. We felt that this home would be an ideal purchase for Vimla and are delighted that a sale was agreed to her. There is strong demand for similar sized and larger care homes in this area, with Dorset and the south always being popular with buyers.”
Neil Collins, Senior Finance Consultant at Christie Finance, comments, “I am very pleased to have been able to work with Vimla to fund this purchase. It was clear that this care home would work well with her existing business. I was able to obtain the required funding at a very competitive price, and we have been able to move quickly with the help of Charles and the seller who answered the lenders’ questions and supplied the required information.”
Two Cedars 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:
Charles Phillips, Director – Healthcare (South)
P: 07764 241 346 or E: charles.phillips@christie.com
Contact Christie Finance:
Neil Collins, Senior Consultant
P: 07548 705370 or E: neil.collins@christiefinance.com
Visit Christie & Co’s Business Search page to find out more about current care listings.