Newly established care group VPP Estates has purchased the freehold of Purbeck House care home in Waterlooville, Hampshire.

Purbeck House is an 11-bedroom care home for the elderly, registered for 15 service users. The business has a Good CQC rating and can take residents in the categories of old age, dementia, leaning disability and mental health.

Since 2005, the home has been owned and operated by Robert and Denise Stephen, who recently decided to sell to retire from the sector.

Robert Stephen said: “We are very pleased to have concluded a sale of Purbeck House to the new owners and wish them all the best with their new business. Having been involved in the care sector even before our purchase of this home back in 2005, we are going to miss it.”

Sugi Peterpaul, director at VPP Estates, commented: “Purbeck House is an ideal business for us as it will be our first care home. The business has been run very well by Robert, Denise, and the team, and we look forward to building on their good name.”

Funding for the buyer was sourced through Christie Finance and business property advisor Christie & Co facilitated the sale.

Charles Phillips, director, healthcare at Christie & Co, said: “There was a good level of interest expressed for this home, with multiple offers being made, which shows that there is great demand for all sizes of care homes at present. We look forward to assisting VPP Estates Limited in the future.”

Jimmy Johns, director at Christie Finance, added: “Despite being new entrants to the market, we were able to secure a highly competitive offer of finance to allow them to make this first acquisition.”

Purbeck House was sold for an undisclosed price.