Knight Frank sells two southern Devon care homes on behalf of a private operator
On behalf of Ian Parkhouse, Knight Frank’s Healthcare team has sold two residential care homes in South Devon. Koppers Retirement Home in Kilmington, Axminster, registered for 24 clients, and Swallowcliffe Retirement Hotel in Seaton, registered for 30 clients, have been acquired by care home operator Whitegates Care for £2.3 million.
Julian Evans, Head of Healthcare, Knight Frank (http://www.knightfrank.co.uk ) said: “The care homes appealed to a significant number of potential purchasers due to the maturity of the established businesses with proven profit levels that have been running for circa 20 years. We had an exceptionally high amount of interest from owner operators, small corporates, new sector entrants, and charities. The sale of these care homes presented a rare opportunity because of the nature of South Devon’s strong residential market that acts as a barrier to entry for new entrants.”
Koppers Retirement Home is an attractive residential care home registered for 24 clients in a prime village location. It is set in approximately 0.25 hectares of mature gardens, in the picturesque village of Kilmington, and is within a short drive to the East Devon coast.
Swallowcliffe Retirement Hotel is an imposing residential care home registered for 30 clients. It is set in approximately 0.52 hectares of landscaped gardens, in the town of Seaton, with magnificent views over Seaton Hole and the East Devon coast.
The businesses have been sold as a going concern. The existing management will remain in place.
For further information, please contact:
Julian Evans, head of healthcare, Knight Frank, +44 (0)20 7861 1147
Olivia Gallimore, commercial pr manager, Knight Frank, +44 (0)20 7861 1035
About Knight Frank
Knight Frank is a leading independent global property consultancy (http://www.knightfrank.co.uk ). Headquartered in London, Knight Frank and its New York-based partner Newmark Knight Frank operate from over 140 offices in established and emerging property markets on five continents. Last year, the companies handled transactions valued at over $41 billion with annual revenues of over $545 million. With a combined staff of 4,500, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide.
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