East Cornwall care home sold after 20 years of ownership

A 1980s purpose-built care home in Callington, East Cornwall has been sold, following the owner’s decision to retire.

Appleby Lodge

The previous owner, Nan Palmer, who operated the home for over 20 years, recently decided to sell to enable her to retire. The business has been purchased by Nick Patel and his family, who also own Holmhurst Care Home, which they acquired in 2020. They saw Appleby Lodge as an excellent opportunity to grow their portfolio.

Appleby Lodge is registered to provide accommodation for up to 18 residents, all in single bedrooms. Not far from the Devon border, the home is set back from the road and has an attractive, mainly lawned garden with a sun terrace and scope exists to extend the home into the rear garden area, subject to obtaining necessary planning consents.

“We are delighted to have acted on another sale in the South West and to have assisted Nan with her retirement plans and Nick with his expansion in the sector,” said Christie & Co senior director-healthcare Simon Harvey.

“This home attracted strong interest with multiple bids received which goes to show the appetite that exists for care homes in the South West, even those that are considered smaller but provide good quality care and are appropriate in the context of their location and the local community.”

 “Having previously helped Nick Patel and his family purchase their first home, we were delighted to work with them again to acquire their second care home,” added Gary Boyce, director at Christie Finance, who sourced funding for the buyer.

“Despite concerns with some banks around the future viability of smaller care homes, funding was secured by focusing on the buyer’s developing track record at Holmhurst and the benefit that having two qualified doctors as owners of Appleby Lodge would bring. We look forward to seeing their continuing growth and helping them with further purchases in the future.”

Appleby Lodge was sold for an undisclosed price.

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