The home which was erected in 2003, comprises 90 bedrooms all with wet room facilities and was purchased by Priory CC 20 Ltd off an asking price of £3M.
Gary Walton Director who handled the sale said ‘Given the quality of the asset and moderate price expectations, there was good interest from a range of the parties and a closing date was set. Whilst the deal was agreed back in April 2019, the Care Inspectorate did take considerable time in registering the facility, which seems to be more common now a days in Scotland, based on the number of transactions we have in solicitors hands awaiting registration in order to complete. It is important that vendors are aware of the potential timescales involved in selling care home businesses and should seek advice.’
Priory CC 20 Ltd propose to undertake significant refurbishment of the property and improve the fee fee profile as well as occupancy under their new ownership.