Merrill Hays secure the sale of Rashot Care Homes to national LD care group
Rashot Care Ltd, a small privately owned care home group, established Raola and Roanu House in 2005 to provide residential care for adults with learning disabilities in a comfortable home environment. The care homes have developed a solid reputation over the years for both the level of care they provide and for the quality of their staff. The homes were placed on the market due to the owner’s wish to retire.
Set in leafy residential roads within Wallington and Carshalton these spacious homes are presented to a high standard each with 6 bedrooms, ensuites, modern kitchens, communal lounge, dining areas and secure private gardens. Positioned on generous corner plots both the properties offer the potential to extend and develop, thereby offering further opportunity to increase the size and scope of the settings.
The pair of residential care homes, which have posted robust revenues and strong occupancy since inception, have been sold off an asking price of £2.2m freehold.
David Howell, Director at Merrill Hays, who led the transaction said: "Following a targeted and discreet marketing campaign we positioned the business to selective care home acquirers. After just 3 viewings a sale was agreed for both the homes to Transparent Care who plan to further invest in the care homes ensuring that they continue to prosper into the future. The sale highlights the strong growth trend of acquisitions within the specialist care market and looking ahead we expect to see a continued rise in consolidations within the sector."
Joy Obaro, Director at Rashot Ltd, said, "Merrill Hays have provided an exemplary service, helping me with every aspect of the sale process from initial market appraisal and selling documentation right the way through to deal negotiation and liaising on the due diligence process. They provided a highly knowledgeable and confidential service with a high level of attention to detail and worked incredibly proactively to achieve my goals. I have thoroughly enjoyed operating the two homes and now look forward to retirement and a new chapter in my life. I would certainly have no hesitation in personally recommending Merrill Hays to anyone looking at selling or buying in the care home sector."
The care homes were acquired by Transparent Care Ltd, an expanding national care home operator based in Buckinghamshire who were attracted to the opportunity due to the operational synergies with their existing portfolio.
Karen Garner, Director of Transparent Care Ltd, added: "This pair of homes are well-placed to sit within our existing care home portfolio and offer the opportunity for further growth and development. We are very happy with the acquisition which takes our group's portfolio to 26 care homes. We look forward to working closely with the team of staff at the homes and getting to know the residents and their families."< Back to other news