Carterwood have completed the sale of Argentum Lodge, a 56-bed, purpose built, registered care home in Nailsea. The freehold has been acquired by Impact Healthcare REIT and Welford Healthcare have entered into a 25-year lease of the property.
Welford Healthcare director Pete Madden said, “We are very pleased to be taking over the running of Argentum Lodge. We are always looking for high quality assets to add to our growing portfolio and Argentum is a great addition to the Welford Healthcare group of homes.”
The care home opened in 2014 and was developed and operated by the Cholwell Group, who will continue to operate Cholwell House in Somerset.
Terence Thompson, director of the Cholwell Group, said, “I’m pleased to be able to announce the sale of our business to Welford Healthcare and Impact REIT and wish them well in the future. It was a pleasure to work with Tom and Matt at Carterwood, who were able to use their sector expertise to find the right buyer, and their experience to bring this deal to a successful conclusion for the shareholders.”
Rob Kinsman of Christie & Co represented Welford Healthcare in the transaction.
Carterwood director Tom Hartley adds, “We are delighted to complete this transaction on behalf of the shareholders and are pleased to complete a mere 3 months from agreeing key terms. Argentum is a great home and high-quality asset, which I’m sure will be a great investment for Welford Healthcare and Impact REIT.”