Merrill Hays broker the sale of Tordarrach care home to local provider
Established in 1993, Tordarrach nursing home occupies a handsome Edwardian property which has been extended over the years to accommodate residents. Prior to its closure in August 2018, the home was registered with CQC as a 20-bed nursing home and offered care and accommodation for the elderly including those with dementia, sensory impairments and physical disabilities.
Located on a highly prized residential road in South Wallington, the period property is arranged over three levels, with passenger lift access to all floors. The accommodation includes a large communal residents' lounge and dining room as well as commercial kitchen, laundry room, office and staff room. Externally the property benefits from a car park for eight vehicles at the front and secluded landscaped gardens to the rear.
David Howell, Director at Merrill Hays handled the sale and said: "We are delighted to have facilitated the successful sale of this prominent care home, assiting our clients in their plans to retire. The fact that we obtained competing offers from a wide range of buyers illustrates the strong demand we are experiencing for good care properties within London and the South East. We currently have a wide range of requirements from active buyers in the region for both operational care homes as well as closed care properties, making this a good time for care owners looking to retire from the sector."
Due to the affluent location, the care home attracted strong interest from potential purchasers including both existing care home operators and residential property developers. Following a number of competing bids, the property was successfully acquired by Ashurst Lodge Healthcare Ltd whose director Raj Doraree is a highly respected care home operator in the area.
Raj Dooraree, Director of Ashurst Lodge Healthcare Ltd, commented: We were attracted to this property due to both its strong location and scope for refurbishment. It links well with our other care homes in the region and emphasises our commitment to the long-term care sector. We plan to completely refurbish the premises and reopen as a specialist care facility later this year. We would like to thank Merrill Hays for assisting us with the purchase and ensuring that everyone worked together to achieve the desired timeframes.
The now former owner of Tordarrach, Joy Obaro concluded: "Having recently sold both our other two care homes through Merrill Hays, we are delighted to have now achieved the sale of Tordarrach, enabling us to enjoy our retirement. Throughout the sale process Merrill Hays worked incredibly proactively, providing a highly knowledgeable and supportive service with strong buyer sourcing capabilities. It was a real pleasure to work with a team who distinguish themselves so much on results and quality of service. We were once again very impressed that they secured strong offers from a wide range of interested buyers. Ultimately we felt that Ashurst Lodge Heathcare had the strongest vision for the future of the home and demonstrated the ability to conclude the deal swiftly."
Merrill Hays sold the freehold interest of Tordarrach Care Home off an asking price of £1.2m and from offer to exchange of contracts took just 4 weeks.< Back to other news