The Briars Residential Care Home in Glemsford, Suffolk, has been sold to an established local operator.
Occupying a period property with substantial, modern extensions, The Briars is registered for 17 residents. The home is located in the picturesque Suffolk village of Glemsford, between a convenience store and a social club.
Following a confidential sales process with Rosie Turner at Christie & Co, and with funding sourced through Ashley Clements at Christie Finance, the home has been purchased by existing operator Kay Naidoo, who has another home in the region.
Rosie Turner, senior business agent – care at Christie & Co, said: “I am delighted to have worked on the sale of The Briars which has enabled the owner to sell after years of dedication and hard work. We ran a confidential marketing process which received a good level of interest due to the home’s profitability and CQC rating. The buyer, Kay, stood out due to his experience within the sector and locality to the home. I look forward to seeing Kay grow his group.
“This is another great example of the demand that exists for smaller homes and highlights the importance of using the right funders, brokers, and solicitors. This deal ran extremely smoothly, and we turned it around in a great time frame. While there are additional challenges within deals, such as the interest rate rises and wider economic factors, signs still point towards a positive outcome for smaller going concerns within the region.
Ashley Clements, finance consultant at Christie Finance, added: “It was a pleasure working with Kay to secure a competitive funding package for his latest acquisition in the care sector. The funding market can be challenging when expanding your business, with lenders having repositioned their appetite/policy in recent years. Our whole-of-market approach allowed me to source a selection of offers for Kay to consider, which was a key part of the process of finding the right lender. From a lender’s perspective, there is still very much a focus on experience in the sector, direct or otherwise.”
