Appleby Lodge in East Cornwall sold after over 20 years of ownership
Specialist business property adviser, Christie & Co, has announced the sale of Appleby Lodge in Callington, East Cornwall. Funding for the buyer was sourced through Christie Finance.
Appleby Lodge is a 1980s purpose-built care home registered to provide accommodation for up to 18 residents, all in single bedrooms. The home sits in a convenient, yet slightly tucked away, location in Callington, a small town in East Cornwall, not far from the Devon border. The building is set back from the road and has an attractive, mainly lawned garden with a sun terrace and plenty of scope exists to extend the home into the rear garden area, subject to obtaining necessary planning consents.
Previous owner, Mrs Nan Palmer, has operated the home for over 20 years and recently decided to sell to enable her to retire. The business has been purchased by Mr Nick Patel and family who also own Holmhurst Care Home, which they acquired in 2020. They saw Appleby Lodge as an excellent opportunity to grow their portfolio.
Simon Harvey, Senior Director – Healthcare at Christie & Co, who handled the sale, comments, “We are delighted to have acted on another sale in the South West and to have assisted Nan with her retirement plans and likewise, Nick with his expansion in the sector.
“This home attracted strong interest with multiple bids received which goes to show the appetite that exists for care homes in the South West, even those that are considered smaller but provide good quality care and are appropriate in the context of their location and local community.”
Gary Boyce, Director at Christie Finance, who sourced funding for the buyer, comments, “Having previously helped Nick Patel and his family purchase their first home, we were delighted to work with them again to acquire their second care home. Despite concerns with some banks around the future viability of smaller care homes, funding was secured by focusing on the buyer’s developing track record at Holmhurst and the benefit that having two qualified doctors as owners of Appleby Lodge would bring. We look forward to seeing their continuing growth and helping them with further purchases in the future.”
Appleby Lodge was sold for an undisclosed price.
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 agent:
Simon Harvey, Senior Director – Healthcare
P: 07764 241 310 or E: simon.harvey@christie.com
