Abbeyfield Wales Society sells three Newport care homes
Specialist business property adviser, Christie & Co, has announced the sale of three Newport care homes on behalf of Abbeyfield Wales Society Ltd.
The homes, which comprise Reene Court Nursing Home, Stow Park Nursing Home, and Eleanor Hodson House, have been owned and operated by the charity for over 25 years and were brought to market as going concerns as part of a wider operational review.
Reene Court Nursing Home is a purpose-built care home registered to provide accommodation with personal care and nursing for 16 clients with a functioning mental illness. The home has an excellent local reputation and benefits from a central location in Newport, set within a residential housing estate overlooking Lliswerry Pill Reen and close to Black Ash Park.
Reene Court has been purchased by Elysium Healthcare, a national private provider of mental health services based in Borehamwood which was founded in 2016.
Stow Park Nursing Home has an excellent local reputation for offering high-quality nursing care for up to 31 clients with dementia. The business sits in a substantial detached Victorian property and benefits from a central, residential location in Newport, with a prominent frontage onto Stow Park Avenue. It sits within close proximity to the Royal Gwent Hospital and St Woolos Hospital. It has been owned and operated by Abbeyfield Wales Society since 2009.
Stow Park Nursing Home has been purchased by South Wales based operator, Ogwr Care Ltd.
Eleanor Hodson House is a purpose-built care home registered for 30 service users. It is located to the north west of Caerleon town centre, Newport, with a prominent roadside frontage onto Pillmawr Road, and sits directly adjacent to St Cadoc’s Hospital in an area of residential housing close to major public transport routes. The home has been part of the Abbeyfield movement in Wales since 1994.
Eleanor Hodson House has been purchased by a regional operator.
CEO of Abbeyfield Wales Society, Gary Hortop, comments, “These homes have provided a much-needed service to the people of Newport for a number of years. The current operating environment has made it increasingly difficult as a charitable provider to make these services work financially and so the Board took the very difficult decision to sell them as going concerns. By doing so, the Board saw this as the best way to protect the services for the City of Newport and to protect the interest of existing residents and staff and secure a stronger future for these high-quality care services.”
The businesses were sold through Oliver McCarthy and Rob Kinsman at Christie & Co.
Oliver McCarthy, Associate Director – Healthcare at Christie & Co, comments, “After advising Abbeyfield to sell these three homes independently rather than as a group due to the ranging complexity of care they offered, we launched open marketing campaigns which generated a great deal of activity and multiple bids in excess of the guide price on all three homes.”
“We have a number of experienced operators looking to expand their portfolios, and there continues to be more demand for care business in South Wales than there is stock on the market.”
The three homes were sold for undisclosed prices.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Executive
P: 020 7448 8849 or E: phoebe.burrows@christie.com
Contact the agents:
Oliver McCarthy, Associate Director – Healthcare
P: 07702 809 198 or E: oliver.mccarthy@christie.com
Rob Kinsman, Regional Director – Healthcare
P: 07717 335 367 or E: rob.kinsman@christie.com
