Welford Healthcare buys established Exeter nursing home
Specialist business property adviser, Christie & Co, has announced the sale of Langford Park Nursing Home in Exeter, Devon.
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Langford Park Nursing Home occupies a former residential property that has been significantly modified and improved over the years to accommodate up to 35 residents across 35 bedrooms. It is located in an attracted, semi-rural location in Exeter.
The home was previously owned by Vision UK Limited and was brought to market to enable the Directors to focus on other business interests both within and away from the care sector.
Following a confidential sales process with Simon Harvey at Christie & Co, and with funding through Omega REIT, it has been purchased by Pete Madden of Welford Healthcare which owns 19 other homes across the UK.
Barnaby Griffith, Managing Director at Vision UK Limited, comments, “I am proud of everything my excellent team and I achieved at Langford Park. Its new owners will start from a strong position and have the resources to give the home the level of long-term investment its residents, their families, and its staff team needs and deserves."
Pete Madden, Director at Welford Healthcare, comments, “As we continue to implement our acquisition strategy focused on high-quality, well-performing care homes, we are delighted to welcome Langford Park into the Welford group of homes. We look forward to starting work with the teams and resident communities.”
Simon Harvey, Senior Director – Care at Christie & Co, comments, “I am delighted to have assisted Welford Healthcare’s continuing growth and wish Pete and the team all the very best with their latest acquisition. Having sold the home to the Directors of Vision UK over a decade ago, we are delighted to have been able to facilitate the sale for them and to enable them to pursue the next stage of their plans.
“This sale is yet another example of the strength and diversity of the market in the South West where appetite continues from investor-backed operators such as Welford Healthcare through to first-time buyers who remain keen to enter the sector.”
Langford Park Nursing 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:
Simon Harvey, Senior Director – Care
P: 07764 241 310 or E: simon.harvey@christie.com
Visit Christie & Co’s Business Search page to find out more about current healthcare listings.