Merrill Hays completes sale of Kenilworth Care Home
Occupying a converted residential property, Kenilworth operates as a care home for up to 3 permanent residents and offers the potential for a buyer to extend and develop the property to further increase the size and scope. Specialising in the care of adults with learning disabilities the home is rated “Good” by CQC and is highly regarded for their quality of care.
The detached home is presented across two floors with residents’ bedrooms all being single occupancy. Communal space consists of two reception areas and an open plan dining room/kitchen. There is also a private garden with a patio at the rear of the property.
The home was established by Mr & Mrs Wijewardena, who have operated the business for over 20 years. The husband and wife team took the difficult decision to sell so they could retire from the care sector.
Commenting on the sale Mr Wijewardena said: “It was a difficult decision to sell our business as we have developed a very close relationship with our residents and loyal staff over the years. We naturally therefore had very specific requirements in finding the right successor to take over the business and we were incredibly impressed with how Merrill Hays understood this and put forward only those buyers who met with our specific brief. I would like to personally thank David Howell who managed the sale process. He not only maintained confidentiality throughout the entire sale but was always incredibly dedicated and professional, offering valued advice at all times, ensuring that the deal progressed to a successful conclusion.”
Kenilworth care home has been purchased by an experienced local care home manager and first time buyer, Satish Awatar.
Commenting on his acquisition, Mr Awatar said: "I had been looking to acquire my first care home for some time and Kenilworth was the perfect fit being manageable in size, with excellent staff and offering a very high standard of care. There were a number of complications which arose during the sale from outside factors including the bank funding and CQC registration, but Merrill Hays were always available to help and advise. They were incredibly patient and I would like to thank them for helping us to acquire this lovely care home. We look forward to taking the business forward and investing in the home to further enrich the lives of our residents.”
The Director of Merrill Hays comments: "We have enjoyed an excellent working relationship with both our client and the purchaser and we wish both parties every success with their future endeavours. Kenilworth generated substantial interest from local first time buyers and care home operators due to its excellent location, stable revenue streams and the scope to develop the business further. The market for well-run and profitable care homes in South East England remains strong and we have a wide range of buyers actively looking for opportunities in the region.”
Kenilworth care home was sold off an asking price of £600,000 for the freehold going concern.< Back to other news