A STAFFORDSHIRE care home has been sold out of receivership for an undisclosed sum by joint agents Jones Lang LaSalle and DC Care.
The deal for Nethermoor Care Home, Chaseley Road, Rugeley was completed on behalf of receivers FRP Advisory.
The purchaser is West Midlands care home operator Friendly Care, which already owns Friendly Inn Care Home in Chelmsley Wood and Princess Lodge in Tipton.
The detached period care home, overlooking Cannock Chase, currently provides care for 19 residents and is soon to be extended by the new owner. The plan is to add more than 40 new en-suite bedrooms.
Mike Goss, director of Friendly Care Group, said: “We are very pleased with this latest acquisition and envisage Nethermoor to become the ‘flagship’ care establishment within our group.
“We are planning to commence building works immediately to incorporate more bedrooms.”
He said the group planned to maintain contact with both agents as it looked to continue with its expansion strategy.
Paul Burford, associate director in Jones Lang LaSalle’s Healthcare team, said: “The sale of Nethermoor attracted significant interest from a wide spectrum of buyers from single home operators to substantial group operators. We are committed to working closely with Friendly Care Group in the future so they can grow their presence further.”
Anita Allen, director of DC Care, said the sale was evidence of an increased appetite amongst buyers for quality acquisitions.
