Maesteg House care home in South Wales funded through Christie Finance
Christie Finance, specialist commercial finance broker, are delighted to have supported in the purchase of Maesteg House care home in the town of Mountain Ash, South Wales.
Maesteg House occupies a detached Victorian property, offering a ‘home from home’ environment and is registered for 11 elderly clients. Enjoying a prominent position in the town, the care home is ideally situated on the main road with easy access and rail links to nearby Merthyr Tydfil and Cardiff.
The privately-run care home was acquired by the previous owner Linda Ackroyd in 2007, who instructed Christie & Co to sell the business as a going concern in order to retire from the industry. She comments, “I have had a wonderful time running Maesteg House which has a fantastic team of staff that are committed to providing the very best care for our residents. I wish Dr Bhaduri, the staffing team and residents all the very best.”
Following a national marketing campaign which generated high levels of interest, the business was sold to Dr Neelanjan Bhaduri from Wickford in Essex. Christie Finance were able to successfully secure Dr Bhaduri funding on Maesteg House.
John Mitchell, Director at Christie Finance commented, “We were delighted to secure funding for Dr Bhaduri for his acquisition of Maesteg House. Christie Finance are increasingly active in the social care industry helping to support first-time buyers where banks can be increasingly nervous to lend. This deal clearly demonstrates how we can help buyers secure their first business and navigate the pitfalls of commercial finance.”
Oliver McCarthy, Business Agent, based in Christie & Co’s Bristol office, who handled the sale, comments, “We wish Dr Bhaduri well in his new venture and have no doubt that he will build on the excellent care provided at Maesteg House. We have completed on care home sales ranging from 11 beds through to 82 beds in South Wales in recent months, underlying the strength of the market and experience in this sector.”
Stuart Tansley from Brewer Harding & Rowe Solicitors in North Devon acted for the seller.