Property Title: DC CARE COMPLETES SALE OF REMAINING HOME IN GROUP

Property Type: Care Home / Nursing Home

For Sale / Sold: Sold

Date Posted: 16 Aug 2013

Location: Tywyn, Gwynedd

Guide Price: Undisclosed (Freehold)

Property Agency: DC Care Specialist Healthcare Business Agents

Reference: The Bay, Tywyn

Description

DC Care has completed the sale of The Bay Nursing Home, in Tywyn, Wales on behalf of Joint Administrators; N Cropper, S Wilson and A O’Keefe of Zolfo Cooper.

Previously a hotel, the building has been in use as a nursing home for a number of years. Following their appointment as Administrators of a larger group which included this home, Zolfo Cooper instructed DC Care to openly market the care homes.

We had expressions of interest from a range of potential purchasers; both existing healthcare operators and new entrants to the sector. The home was sold to Messrs Bains and this is their first venture into care home ownership.

The home was part of the Regency ‘group’ which included companies that owned four other care homes: The Old Vicarage, Oak Lodge, Littlecoates House and Hazelmere House. All but one have remained in use for care.

The sale was managed by Alison Taylor, DC Care Business Appraiser. Alison commented “The Bay is yet another home we have sold to first time buyers. It is very encouraging to see continued interest from people wanting to move into the sector and we would like to wish the new owners every success with the home.”

August 2013