A care home in Burnham-On-Sea is under new ownership after being sold by a specialist business property firm.
Christie and Co brokered the sale of Broughton Lodge Care Home on behalf of retiring owners, Mike and Mandy Matthews to an established operator of similar sized homes from the South East, Mr Dharm Patel.
Mike and Mandy were owner-operators of the home and decided to retire due to health reasons and to enable them to spend more time overseas with their family.
Broughton Lodge was significantly upgraded and improved during their ownership to include a two-storey extension with the recent addition of further bedrooms on the top floor taking the total to 18. The home has an excellent reputation, specialising in dementia care.
Simon Harvey, Director at Christie & Co who handled the sale comments, said: “We are delighted to have assisted Mike and Mandy with the sale and congratulate Dharm on an excellent acquisition. This is a highly regarded care home and we would like to wish Dharm well with what we are sure will be an extremely positive future.”
“The care market in the South West remains very strong with a wide range of sales taking place across the region. This is the second home we have sold this year in Burnham-on-Sea following the acquisition at the beginning of the year of The Burnham Nursing Home by Country Court Care.”
The freehold interest in the property was sold in a deal funded by Barclays, where the sellers were represented by Wards in Bristol and the purchasers by Adams & Remers in Lewes. The property was on the market for £995,000.