June 13, 2024

South West News

South West News from Gloucestershire to Cornwall

Established Cullompton care home sold to BN Care Holdings

Specialist business property adviser, Christie & Co, has announced the sale of Court House care home in Cullompton, Devon.

Court House is a well-established care business that occupies an attractive converted period property with accommodation for up to 33 elderly residents. It sits in a convenient, yet slightly secluded, location close to the centre of the town and within easy reach of the various facilities on offer.

It was previously owned by Marcus Lyward and Lorna Turner who purchased the home through Christie & Co in 2014 and, over this time, transformed it into a well-regarded business and improved every aspect of the property including adding more bedrooms. They decided to sell to enable them to retire from the sector.

Following a confidential sales process with Simon Harvey at Christie & Co, it has been purchased by Wade Newmark of BN Care Holdings, taking the group to five care homes and 171 registered beds across Exeter, East Devon, and West Dorset.

Marcus Lyward and Lorna Turner, former owners of Court House, comment, “We would like to wish Wade Newmark, BN Care Holdings, and the management team and staff at Court House every success for the future.”

Wade Newmark, Managing Director at BN Care, comments, “BN Care is incredibly fortunate to take on a home whose history, team, and reputation chime so closely with our values of kindness and community. I have owned and operated care homes for the past 18 years and will hopefully bring some of my experience to Court House to take the home forward and to build on the wonderful foundation set down by Marcus and Lorna over the years.”

Simon Harvey, Senior Director – Care at Christie & Co, comments, “Having sold the home to Marcus and Lorna, I am delighted to have been able to assist them in exiting the sector as well. I am also delighted to have been able to continue the association between Wade’s group and Christie & Co, and to have assisted with their continued expansion. I wish Wade and his team continued success with the home.

“The sale of Court House is yet further evidence of the strength of the regional care home market in the South West where we continue to see appetite from buyers such as Wade and others who are looking to grow and indeed, enter the sector for the first time.  As we move through 2024, despite the challenges the past 12 months have presented, the market in the region looks well set for the year ahead.”

Court House was sold for an undisclosed price.

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