Specialist business property adviser, Christie & Co, has announced the sale of The Alexandra Nursing Home in the coastal town of Tywyn, north west Wales.
Initially constructed as an orphanage, The Alexander Nursing Home now trades as an established care home for the elderly, providing both nursing and residential care for up to 25 clients. The original property, which is period-built and benefits from more recent extensions, occupies a stunning location in the town of Tywyn, on the north-west coast of Wales.
In September 2021, The Alexandra Nursing Home entered into administration and David Shambrook and Gary Hargreaves of FRP Advisory appointed Christie & Co to market the home and identify a buyer on a going concern basis.
Following an open marketing campaign, it has been sold to new entrants, Rikhil Shonchhatra and Pritraj Aggarwal.
Rikhil and Pritraj comment, “We are absolutely thrilled to acquire The Alexandra Nursing Home. From the minute we first looked around, we were struck by the outstanding quality of care the staffing team provide and their commitment. We are looking forward to working with the team, residents, and families to ensure the very best care is provided.”
James Knight and Rob Kinsman of Christie & Co managed the sale on behalf of FRP.
James Knight, Associate Director – Healthcare at Christie & Co, comments, “We’re delighted to conclude the sale of The Alexandra Nursing Home to Rikhil and Pritraj. After an extensive marketing process, it is great to see that the future of the home is secured and in capable hands.
“We witnessed strong interest from a wide range of care operators. The market for care homes, whether open or closed, is still very competitive, with significantly more buyers than sellers, even while challenges in the sector are still prominent.”
The Alexandra Nursing Home was sold for an undisclosed sum.