Specialist business property adviser, Christie & Co, has completed the sale of Cherry Tree Care Home in Caldicot, South Wales.
Cherry Tree Care Home occupies a purpose-built care home that provides outstanding care for up to 41 residents requiring residential and nursing support. It has been owned by Hallmark Luxury Care Homes for 27 years, over which time it has built up an excellent reputation with a stable team and award-winning care. Cherry Tree Care Home was brought to the market on a confidential basis to minimise disruption at the care home.
Following a sales process handled by Rob Kinsman at Christie & Co, the home has been purchased by Basanta Nepal of Dreams Care Homes who operates two elderly care homes in southeast Wales.
Aneurin Brown, Managing Director at Hallmark Luxury Care Homes, comments, “Cherry Tree is a wonderful home and has long been part of the Hallmark Family. Though very special, the home doesn’t fit with the longer-term strategic direction of the Hallmark business and is an exception in a number of ways to our other homes. It is for that reason the difficult decision was reached to go ahead with the sale. We are confident that Dreams Care Homes will prove to be a perfect new owner for the business. We wish the team and Basanta all the very best.”
Basanta Nepal, Managing Director at Dreams Care Homes, comments, “It has been a pleasure to deal with the Hallmark team over the last few months and we’re very excited to take the helm at Cherry Tree Care Home. We have been so impressed with the staffing team there and look forward to working with them over the next few weeks and continuing to provide the very best care for the residents.”
Rob Kinsman, Regional Director – Care at Christie & Co, comments, “We are pleased to have completed this transaction which was managed with care and consideration and concluded efficiently and confidentially to ensure the continuity of the business. We’d like to thank both teams who worked collaboratively throughout the process and wish the Dreams Care Homes all the best at Cherry Tree.”
Legal advice was provided to Hallmark Luxury Care Homes by Morgan LaRoche and to Dreams Care Homes by Bowcock & Pursaill.
Cherry Tree Care Home was sold for an undisclosed price.
