Pair of award-winning Devon care homes sold

Specialist business property adviser, Christie & Co, has announced the sale of two family-run care homes, Mount Olivet and Kingsmount in Paignton, Torbay.

The care homes, which were named as a ‘Top 20 Care Home Group’ by carehome.co.uk in 2018, maintain an excellent reputation within the community for providing quality dementia and nursing care for up to a total of 62 residents. They both occupy period properties in the charming seaside town of Paignton.

Previously owned by GrayAreas Ltd, the homes were brought to market after 23 years of ownership under the Gray family.

Following a confidential sales process with Simon Harvey at Christie & Co, the homes have been purchased by John Griffiths and Peter Angelides of Hadley Care in North Devon. The pair enter ownership with a wealth of hands-on sector experience.

Tori Gray, Managing Director of Mount Olivet and Kingsmount care homes, comments, “I had a very good feeling about John and Peter upon our first meeting, and I've enjoyed the transition period. I've no doubt they will continue to take the homes from strength to strength well into the future. They have taken on a fantastic team at Mount Olivet and Kingsmount, and I wish them all well."

John Griffiths and Peter Angelides, the new owners of Mount Olivet and Kingsmount care homes, comment, “We were delighted to acquire the care homes to join our already highly successful Hadley Care business. Simon Harvey at Christie & Co continues to work with us on our acquisition trail to grow our group in the South West.”

Simon Harvey, Senior Director – Care at Christie & Co, adds, “Having been entrusted by the family to market the care homes on their behalf, we ran a structured and discrete marketing campaign which, given the location and quality of the homes, generated significant interest from a wide range of buyers with bids. It was obvious that John and Peter’s approach and vision for the business aligned with the family, and it was therefore agreed that the homes be sold to them.

“As with every transaction at present, the sale was not without its challenges, but a strong desire and commitment from all sides enabled a positive result to be achieved and is a further demonstration of the appetite and demand that continues to exist for a wide range of care homes across the South West.”

Mount Olivet and Kingsmount care homes were sold for an undisclosed price.

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