A care home in Devon has been sold for an undisclosed sum after the owners decided to retire.
Marcus Lyward and Lorna Turner had run Court House – a care business for up to 33 elderly residents in Cullompton – since 2014. Following a confidential sales process, the property was 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.
The deal was brokered by Simon Harvey of specialist property advisory firm Christie & Co.
Mr Lyward and Ms Turner said: “We would like to wish Wade Newmark, BN Care Holdings, and the management team and staff at Court House every success for the future.”
Mr Newmark, managing director at BN Care, added: “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.”
Mr Harvey said the sale of Court House was “yet further evidence” of the strength of the regional care home market in the South West.
He said: “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.”
