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£600k Gloucestershire care home bought by new entrants in care sector

Faith House, a residential care facility located in Severn Beach, South Gloucestershire, has been sold through Christie & Co, off an asking price of £600k.

The care home is situated on Station Road, in the centre of the village, and has a total of 10 bedrooms, nine of which have en suite facilities. There's a residents’ lounge with kitchen/diner, and a recently refitted bathroom and WC.

Faith House trades relatively unopposed in the area, with very little immediate competition.

Toni Stevens, who has owned Faith House for over 13 years, decided to sell in order to pursue retirement. Stevens said, “Christie & Co were supportive and worked hard to ensure that the sale, although time consuming, was completed favourably, Oliver McCarthy was always available and able to offer professional advice.”

The business has been purchased by a group of first-time buyers with extensive experience in the health and social care sector. They said, “We are excited to finally complete on the purchase of our first care home.

'Our Finance Consultant, Lawrence Roberts, was absolutely incredible! He held our hands through every stage of the transaction and was tireless in his efforts on our behalf. We are extremely thankful to have him in our corner and look forward to working with him again.”

Oliver McCarthy, Senior Business Agent at Christie & Co, who handled the sale, comments, ”Faith House received significant local and national interest leading to a number of offers, and we continue to see many well-funded buyers seeking new opportunities in the region”.

Lawrence Roberts, Finance Consultant at Christie Finance, said, “It was a pleasure working with these first-time buyers on the purchase of Faith House. Despite both being first-time buyers, they both have a wealth of experience in the sector and the required skills to sustain and grow the home’s performance.

'There are already discussions regarding a second acquisition in the future and it would be my pleasure to assist in helping them again in securing the funding they require. I wish them all the very best in their new venture.”