Posted by Hazel Phillips, Partner
Ashdown House Secures First Time Care Home Buyer
The sale of Ashdown House care home based in Daventry, Northamptonshire, to Knighton Care Services Ltd was arranged by DC Care, Chandler & Co and Royds Withy King, who are all members of the Buyacarehome professional network. Ashdown House care …
The sale of Ashdown House care home based in Daventry, Northamptonshire, to Knighton Care Services Ltd was arranged by DC Care, Chandler & Co and Royds Withy King, who are all members of the Buyacarehome professional network.
Ashdown House care home provides accommodation and personal care for up to 24 residents. It specialises in caring for people with Alzheimer’s, speech impairments and deafness and has been sold on behalf of Mr Solanki, who had owned and operated the business since 2002. The sale to Mr Jay Patel, who has acquired this, his first care home having previous mental health facility management experience, has enabled Mr Solanki to focus on his other business interests closer to home in Southern England.
DC Care’s Regional Director for The South Midlands and Southern England, Andy Sandel commented: “While obtaining funding for new entrants to the care sector and getting through the CQC’s registration process becomes ever more challenging, we have certainly found that experience counts. Mr Patel’s existing care-sector background put him in good stead for the acquisition of the home and going forward. We wish him all the best operating Ashdown House, as we do our vendor client Mr Solanki with his other business interests.”
Managing director of Knighton Care Services Jay Patel, who left a successful IT career in London to take over Ashdown House, said: “Despite the care sector being a highly regulated one, it is also a highly rewarding area to work in. Through Buyacarehome, I was able to identify an attractive freehold business to acquire and, with hands on support from specialist advisers at DC Care, Chandler & Co and Royds Withy King, the transaction was completed quickly and seamlessly. I am fortunate to have a wonderful team of staff in place who are helping me to settle in, and from our residents’ point of view, they continue to receive the consistently high standards of care they are used to.”
Hazel Phillips, partner and joint head of our Health and Social Care team, said: “We are working with an increasing number of first-time buyers like Jay who have the skills and experience to drive further improvements within the care homes they acquire. We wish Jay every success in his venture.”
Mark Hickman, a Director at Chandler & Co that arranged the mortgage for the deal, said: “It was a pleasure in assisting Jay and Nina Patel in realising their ambitions to own a care home. Both Jay and Nina represent a new breed of first-time buyer to the care sector who want to be ‘hands on’ operators working to continue high standards of care. They have ambitious plans to build up a portfolio of care businesses and properties and I wish them success for the future.”
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