Double Care Home Acquisition for Teesside Care Company13/02/2019
A Teesside based residential care company has added two care homes to its portfolio with the help of specialist property advisor Christie & Co and Mincoffs Solicitors.
Stockton Care Limited has acquired Cedar Lodge and Cherry Tree Care Homes, both in Stockton-upon-Tees, from a UK wide operator to expand its offering of residential care in the Teesside area.
Julie Kitson, Director at Christie & Co’s Newcastle office, who handled the sale commented “Acting on behalf of a corporate operator who was looking to dispose of a portfolio of seven homes, it has been a pleasure to assist Stockton Care in their second purchase. As Cedar Lodge was a closed unit, I am looking forward to seeing the refurbished premises re-open and I am sure the home will be a success and an asset to the local community.”
John Nicholson, Partner at Mincoffs Solicitors and lead advisor on the specialist healthcare team, acted for Stockton Care Limited. “The purchase of two care homes in one transaction is a great way for Stockton Care Limited to expand its portfolio in the region. We were delighted to advise on the acquisition and look forward to working with the team on their continued expansion.”
New owner Vinod Hukkeri said of the acquisition ‘we are extremely satisfied with the professional services rendered by Christie & Co and Mincoffs Solicitors in our recent double acquisition of Cherry Tree Care Centre and Cedar Lodge Nursing Homes in Stockton. Our special thanks to John Nicholson & Malcom Wood from Mincoffs and Julie Kitson from Christie & Co, who handled the sale professionally from start to finish. They kept us informed every step of the way and they possess exemplary knowledge and expertise about care home acquisitions.”