Specialist business property adviser Christie & Co has announced the sale of Somerville House in Cullompton, Devon.
Registered for up to 30 residents, Somerville House has been under the same ownership for 21 years and was recently brought to market to allow the owners to retire.
Following a confidential sales process with Simon Harvey at Christie & Co, with funding sourced through Ashley Clements at Christie Finance, it has been purchased by Karamvir Singh of Smile Care Home Ltd. With two homes in the Midlands already, this is his first venture in the South West.
Karamvir Singh, owner of Smile Care Home Ltd, said: “We are already in the care home business in the West Midlands and wanted to expand our footprint in this specific area, which led us to search and find this beautiful property. This is a well-managed property with a manager on site, and the CQC rating is also very good. But we believe that there is always room to improve, so we are striving to improve our services for residents and make a special bond with residents.”
Simon Harvey, senior director – care at Christie & Co, commented: “Having sold the home to the vendor over 20 years ago, I was delighted to have been entrusted with the sale and to assist in his retirement plans. During his ownership, many improvements have been made, including the most recent ground floor extension, which was completed in early 2022, making it a most appealing proposition. Somerville House attracted strong interest from a wide variety of purchasers, and we wish Karamvir well with his first venture in the region.”
Ashley Clements, associate director at Christie Finance, added: “It was a pleasure to work with Karamvir and the team at Smile Care Homes to help source the funding for the purchase of this home. The team has achieved great things in their existing homes over the last few years, and I have every faith in their ability to continue this trajectory with this home and future purchases. We continue to see experience and a proven track record being a key part of the transaction from a lender’s perspective, especially when clients have a desire to grow at pace. Ensuring this is evidenced in the right way can be the difference between obtaining funding and not. I wish Karamvir all the best with this and future ventures, and I look forward to working with the team again.”
