Care new entrants, Rikhil Shonchhatra and Pritraj Aggarwal, have acquired The Alexandra Nursing Home in the coastal town of Tywyn, Northwest Wales.

Initially built as an orphanage, the home cares for the elderly, providing nursing and residential care for up to 25 clients in an original period property with recent extensions.

The Alexandra Nursing Home entered into administration last September and FRP Advisory appointed business property advisor Christie & Co to market the home and identify a buyer on a going concern basis.

Shonchhatra and Aggarwal stated: “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, associate director, healthcare at Christie & Co, said: “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.