Two Teesside care homes acquired by Stockton Care Limited
Two care homes in Stockton-on-Tees in County Durham have been sold through specialist property adviser, Christie & Co to a Teesside-based residential care company, with Mincoffs Solicitors advising on behalf of the buyer.
Cedar Lodge and Cherry Tree Care Homes were purchased by local group operator, Stockton Care Limited from a UK operator, in order to expand its offering of residential care in the Teesside area.
New owner, Vinod Hukkeri, Director of Stockton Care Limited, comments, “We are extremely satisfied with the professional services rendered by Christie & Co and Mincoffs Solicitors in our recent double acquisition of Cherry Tree Care Centre and Cedar Lodge Nursing Homes in Stockton. Our special thanks to John Nicholson & Malcom Wood from Mincoffs and Julie Kitson from Christie & Co, who handled the sale professionally from start to finish. They kept us informed every step of the way and they possess exemplary knowledge and expertise about care home acquisitions.”
John Nicholson, Partner at Mincoffs Solicitors and lead advisor on the specialist healthcare team, acted for Stockton Care Limited and comments, “The purchase of two care homes in one transaction is a great way for Stockton Care Limited to expand its portfolio in the region. We were delighted to advise on the acquisition and look forward to working with the team on their continued expansion.”
Julie Kitson, Director at Christie & Co’s Newcastle office, who handled the sale comments, “Acting on behalf of a corporate operator who was looking to dispose of a portfolio of seven homes, it has been a pleasure to assist Stockton Care in their second purchase. As Cedar Lodge was a closed unit, I am looking forward to seeing the refurbished premises re-open and I am sure the home will be a success and an asset to the local community.”
