Specialist business property adviser, Christie & Co, has announced the sale of Glendale Court in Teignmouth, Devon.
Glendale Court is an impressive care home that occupies two interlinked period properties that have been extended and modified over the years to provide accommodation for up to 37 residents across 34 en suite bedrooms. It is situated in a residential area close to the centre of the popular coastal town of Teignmouth, with easy access to the town centre and other nearby facilities.
The home has been owned by Glenn and Gloria Taylor for nearly 25 years ago, during which time they significantly enhanced the quality of the business, including the acquisition of neighbouring property and an extension to link both buildings. They decided to sell to enable them to retire.
Following a confidential sales process with Simon Harvey at Christie & Co, it has been purchased by Kennedy Sabapathy who now owns five care homes, with three in neighbouring Dorset – The Hyde in Bridport, Fairfield House in Weymouth and the Ferndown Nursing Home in Ferndown – and one in Shropshire. He saw the purchase of Glendale Court as an ideal opportunity to expand his portfolio with the acquisition of this high-quality home.
Kennedy Sabapathy, the new owner of Glendale Court, comments, “Glendale has definitely added value to our growing portfolio of homes. It has consistently performed well and has future potential as the demand for beds continues to grow in that demography.”
Simon Harvey, Senior Director – Care at Christie & Co, comments, “Having known Glenn and Gloria for over 20 years and seeing how they have grown and shaped the business during this time, I was delighted to be entrusted with the sale of Glendale Court and am delighted to have secured a buyer for them. I wish them both well in their well-earned retirement and, at the same time, am delighted to have sold another care home to Kennedy, having acted on both The Hyde and Fairfield House in the past. He has made great improvements to both homes and whilst Glendale Court is not something that requires the same level of attention, I am sure that he will prove to be a ‘safe pair of hands’ moving forward.
“The sale of Glendale Court, where our marketing generated strong interest and multiple bids, is another example of the appetite that exists for good quality, well-run and profitable care homes in the South West which is continually demonstrated by the number of care homes we transact in the area every year.”
Glendale Court was sold for an undisclosed price.
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