Regional law firm Royds Withy King has advised on the sale of another nursing home as it continues to position itself as a major player in the busy residential care market.
Hillcrest Nursing Home, a well-respected and long-established 88-bed nursing and dementia home in Looe, Cornwall, was sold by owners Mike and Sharon Cotton to Impact Healthcare REIT with an operating lease granted to Minster Care Group.
The home, pictured, becomes the second in Cornwall for Minster, a care provider with more than 60 retirement and nursing homes across the UK.
Royds Withy King, which has an office in Swindon, has a strong track record of advising care operators on the sale and acquisition of nursing and residential homes.
In January it advised Trowbridge-based Equality Care on the disposal of two care homes to Fidelia Care and two further home sales last month to an undisclosed buyer.
The Royds Withy King team was led by corporate partner Hazel Phillips and real estate partner Paul Daniels.
Hazel, pictured, said: “We were delighted to advise on the sale of the Hillcrest Nursing Home to Impact Healthcare REIT and the Minster Care Group.
“Michael and Sharon have built a terrific business and a wonderful home. We wish them a long, healthy and happy retirement.”
Specialist care home agency The Confidential Register negotiated the sale, financial details of which have not been disclosed.
Its managing director Richard Musto said: “It has been our pleasure to be instructed to sell Hillcrest House on behalf of Mike and Sharon, two hugely successful and professional care providers, and to see Hillcrest House become an integral part of Minster Care Group, a very well-respected care provider with a large portfolio of homes.
“We were able to bring together and broker a deal where both parties were able to achieve a successful outcome without the disruption to the business and with complete confidentiality throughout the sale process.
“Hillcrest House is a testament to the hard work and efforts of Mike and Sharon over many years and will continue to flourish and grow under the auspices of Minster.”
National law firm Travers Smith advised Impact Healthcare REIT while Charles Russell Speechlys provided legal advice to Minster Care Group.
Royds Withy King, which employs 480 people across in its offices in Bath, Bristol, Swindon, Oxford and London, provides a wide range of legal services, from corporate and commercial to family and private client, across a number of key sectors.
