Thursday, November 26, 2020
Real EstateUK

Former care home sold for £1.4m

home

The new owners plan to refurbish and re-open it once it has been re-registered with the CQC

A former residential care home in Stoke-on-Trent is under new ownership after being sold for more than £1.4m.

Blacklake Lodge Residential Home, in Meir Heath – which was rated ‘inadequate’ by the Care Quality Commission (CQC) – closed in June as a result of the coronavirus pandemic.

But now it has been snapped up by Binoy Mathew – who is the director of another Potteries care home – and a group of business partners.

And the new owners – who bought the 37-bed home for the £1,495,000 asking price – plan to refurbish and re-open it once it has been re-registered with the CQC.

The sale of the home comes with planning permission to add a further 10 bedrooms and some new day space onto the building.

Paul Reilly, director of healthcare at estate agency Christie & Co, who handled the sale, said: The sale of Blacklake Lodge created plenty of interest and completed within just 28 days. We are sure that Binoy and his business partners will bring a new lease of life to the business and wish them the very best for the future.

Blacklake Lodge was previously owned by Stephen Dudley, who decided to sell to concentrate on other business ventures.

It was originally developed as a private residence and was converted to care use around 18 years ago and has benefitted from various extensions and improvements over the years.

The last major extension at the Hilderstone Road building was a single storey wing added around 1997, which includes 11 single bedrooms.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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