Devon care homes acquired by first-time buyer couple

Summercourt Residential Home
Summercourt Residential Home

First-time buyer couple Drs Shashi and Munisha Balain have purchased two Devonshire residential care homes.

Trading under the limited company, Classic Care Homes, Summercourt Residential Home in Teignmouth and Pottles Court Residential Home in Exminster are registered to care for up to 37 residents across 36 bedrooms.

The homes are located 13 miles apart and have been owned by husband and wife George and Henrietta Coxon, and their friend Rebecca Woodman, since 2005 and 2007. They recently decided to sell to pursue other business and leisure interests, though the Coxons will continue to work at the homes to assist with the transition and maintain continuity of care.

Woodman said: “Our hopes are that the homes continue to run from strength to strength offering excellent care and job opportunities. We wish Shashi and Munisha good luck and hope that they enjoy many happy years in a rewarding sector.”

Funding for the buyer was sourced through Christie Finance.

Specialist business property advisor Christie & Co facilitated the sale. Simon Harvey, senior director, healthcare at Christie & Co commented: “This is yet another transaction that demonstrates the variety of care homes currently being sold in the area. We are continuing to see appetite from a wide range of buyers for a mix of opportunities, and there are signs are that this will continue to be the case for the foreseeable future.”

The homes were sold for an undisclosed price.

Pottles Court Residential Home
Pottles Court Residential Home

Join our mailing list

Stay up to date with all our events, awards and publications.

Information you provide us with will be kept private at all times, and will be used for communication and research purpose only.