Business selling agent secures £650k sale of established care home

Preston-based Redwoods Dowling Kerr has overseen the sale of an established family-run care home for £650,000.

Operated by the same family since the 1980’s, Thorndene Residential Home, in Doncaster, South Yorkshire, has since established itself as a reputable care provider, with the supportive and personal nature of their care being praised by the CQC.

The home is registered to care for 22 residents and has historically enjoyed healthy occupancy levels, resulting in an impressive fee income exceeding £626,000.

The striking property had been carefully converted and extended to fully accommodate its residents and boasting nine en-suite rooms.

Supported by regular referrals, recommendations and an enviable reputation, the long-standing care home extended its capacity within the sector by establishing a domiciliary service in 2016.

The home care agency proved to be successful with approximately 300 hours of care being delivered to 22 clients throughout the local area each week.

After 10 years as an optometrist the buyer, Ravivannan Premananthan, sought to purchase his first business, making the successful offer of £650,000 for the residential home and home care provider.

Mr Premananthan was driven to make the offer after seeing the business’s excellent reputation, saying he was attracted to the healthcare sector after seeing the growth it has demonstrated in recent years and hopes to replicate this success with his new business.

Redwoods Dowling Kerr lead negotiator of the sale, Asif Musa, said: “It has been a good experience working with both of my clients, and I wish them very best for the future.”