3/14/2019 | Care Mortgages

Old Raven House care home purchased by experienced asset management firm

Old Raven House, a freehold care home located in Hook, five miles East of Basingstoke, has been purchased by asset management firm, Sire Properties Limited, with funding successfully secured by specialist commercial finance broker, Christie Finance.

The Grade II listed, two storey property is registered to accommodate 36 residents, comprising of 22 single bedrooms and seven twin rooms, 25 of which offer en suite facilities. Shared areas in the home include a sun lounge, two dining areas, lounge and conservatory.

The home currently trades at 100% occupancy and has been rated by the CQC as ‘Good’. Historically, the home has been trading as a ‘hotel’ for the elderly, accommodating residents with low care needs. However, over recent years dependency levels have increased, with Old Raven House now operating as a home for life with palliative care being provided to residents.

Sire Properties are investing in Old Raven House care home, adding to their existing business portfolio. Anne Turner is the incumbent manager at Old Raven House and will remain in the role overseeing all operations. 

Anne has worked at Old Raven House care home for the past 12 years, qualified with an NVQ Level four, a BSc (Hons) in Social Sciences and Social Welfare and holds the Registered Manager’s Award. Anne will continue to utilise her invaluable experience as care home manager, taking the business forward with the support of Sire Properties.

David Ward, Senior Director at Christie Finance, who secured the funding, he comments “It has been a great experience working with Sire Properties to acquire Old Raven House. The home is well established and managed by a highly experienced manager, presenting an ideal investment opportunity for my clients. They are planning an extension to the property, which will be a great addition to what is already an excellent care facility.”