Royds Withy King advise on sale of Cornish nursing home
Law firm Royds Withy King has advised on the sale of a well-respected and long-established nursing home in Looe, Cornwall.
Hillcrest Nursing Home, an 88-bed nursing and dementia home, was sold to Impact Healthcare REIT with an operating lease granted to Minster Care Group. Minster Care Group is a highly regarded care provider with more than 60 retirement and nursing homes across the UK.
The Royds Withy King team was led by Corporate Partner Hazel Phillips and Real Estate Partner Paul Daniels.
Hazel said: “We were delighted to advise on the sale of the Hillcrest Nursing Home to Impact Healthcare REIT and the Minster Care Group. Michael and Sharon Cotton have built a terrific business and a wonderful home. We wish them a long, healthy and happy retirement.”
Specialist agents, The Confidential Register, negotiated this successful sale.
The Confidential Register Managing Director Richard Musto commented: “It has been our pleasure to be instructed to sell Hillcrest House on behalf of Mike and Sharon Cotton, two hugely successful and professional care providers, and to see Hillcrest House become an integral part of Minster Care Group, a very well-respected care provider with a large portfolio of homes.
“We were able to bring together and broker a deal where both parties were able to achieve a successful outcome without the disruption to the business and with complete confidentiality throughout the sale process. Hillcrest House is a testament to the hard work and efforts of Mike and Sharon over many years and will continue to flourish and grow under the auspices of Minster Care Group, led by Mahesh Patel. We wish Mike and Sharon a very long and happy retirement.”
Royds Withy King has a strong track record in advising care operators on the sale and acquisition of nursing and residential homes. In January, the firm advised Equality Care Limited on the sale of two care homes to Fidelia Care, and in November on the sale of two further homes to an undisclosed buyer.
Impact Healthcare REIT plc was advised by Travers Smith and Minster Care Group by Charles Russell Speechlys.