Cornish care home sold for undisclosed amount

Specialist business property adviser Christie & Co has announced the sale of Asheborough House in Saltash, Cornwall.

Asheborough House is a care home business that is registered for up to 31 residents. It occupies a substantial, 27-bedroom Grade II-listed detached property on the outskirts of Saltash, on the Devon/Cornwall border.

For the last 15 years, the business has been owned by Lizzie Waters, who recently decided to sell to begin her path to retirement and focus on operating her remaining home, Waters Park House in Plymouth.

Following a confidential sales process with Simon Harvey at Christie & Co, the business has been purchased by Shyam Done of Ashville Residential Home, which already owns Orchard Lea in Cullompton.

They plan to go ahead with the expansion of the home as there was already planning in place to add another 20 or so bedrooms.

Simon Harvey said: “We were delighted to have assisted Lizzie in this sale, helping her move towards eventual retirement from the sector. This sale, like many others, proved to be challenging given the financial market last year but, pleasingly, it is now another successful completion and continues to illustrate the interest that we’re seeing for care homes in the South West and the appetite for a wide range of opportunities as, once again, bids were received from multiple parties on this care home.

“Following the Christmas and New Year breaks where things were inevitably quieter, we are seeing activity levels increase again, and anticipate another busy year for care home transactions.”

Asheborough House was sold for an undisclosed price.