The Alexandra Nursing Home in the coastal town of Tywyn, Wales, has been sold to new entrants to the care sector.
The home, originally an orphanage, provides both nursing and residential care for up to 25 clients. The business went into administration in September 2021 and was operated on an interim basis by Cornerstone Care Solutions while administrators FRP Advisory appointed James Knight and Rob Kinsman of specialist business property adviser Christie & Co to identify a buyer on a going concern basis.
The Alexandra Nursing Home has now been sold to new entrants Rikhil Shonchhatra and Pritraj Aggarwal.
Rikhil and Pritraj said: “We are absolutely thrilled to acquire The Alexandra Nursing Home. From the minute we first looked around, we were struck by the outstanding quality of care the staffing team provide and their commitment. We are looking forward to working with the team, residents, and families to ensure the very best care is provided.”
James Knight, associate director at Christie & Co, added: “We’re delighted to conclude the sale of The Alexandra Nursing Home to Rikhil and Pritraj. After an extensive marketing process, it is great to see that the future of the home is secured and in capable hands.
“We witnessed strong interest from a wide range of care operators. The market for care homes, whether open or closed, is still very competitive, with significantly more buyers than sellers, even while challenges in the sector are still prominent.”