Thorndene Residential Home sold by Redwoods Dowling Kerr
3rd May 2019
Redwoods Dowling Kerr oversee successful sale of an established family run care home in Doncaster, South Yorkshire.
Operated by the same family since the 1980’s, Thorndene Residential Home has since established itself as a reputable care provider, with the supportive and personal nature of their care being praised by the CQC.
Thorndene Residential Home is registered to care for 22 residents and has historically enjoyed healthy occupancy levels resulting in an impressive fee income exceeding £626k. The striking property had been carefully converted and extended to fully accommodate its residents with the property boasting 9 en-suite rooms.
Supported by regular referrals, recommendations and an enviable reputation the long-standing care home extended its capacity within the sector by establishing a domiciliary service in 2016. The home care agency proved to be successful with approximately 300 hours of care being delivered to 22 clients throughout the local area each week.
After 10 years as an optometrist the buyer, Mr Ravivannan Premananthan sought to purchase his first business, making the successful offer of £650k for the Residential Home and home care provider. Mr Premananthan was driven to make the offer after seeing the business’s excellent reputation, saying he was attracted to the healthcare sector after seeing the growth it has demonstrated in recent years and hopes to replicate this success with his new business.
Delighted with the sale of her business, Vendor Kathleen Pickup commented;
“I would like to thank Redwoods Dowling Kerr for their professional services provided in selling Thorndene care home.”
“I sincerely would like to express my thanks to Asif Musa at Redwoods Dowling Kerr, for all his help and efforts in pushing the sale all the way to completion.”
“Asif provided me with a great service and did a great job in finding a suitable buyer who was financially secure quickly. There is no way without the help from Redwoods Dowling Kerr, especially Asif Musa, that we would have proceeded to such a satisfactory outcome.”
“Asif kept us informed throughout the sale process and has really gone the extra mile in selling our care home. I have no hesitation in recommending Redwoods Dowling Kerr’s services to anyone who is considering in selling their care home.”
Pleased with the purchase of his first business, Mr Ravivannan Premananthan shared;
“Asif Musa has been a great help, his knowledge in the industry and his expertise helped me find a suitable care home for my needs.”
“Being a first-time buyer, I am pleased that Asif was always at hand to guide and mentor me throughout the sale whenever I had questions or concerns regarding the sale or the CQC registration.”
“RDK recommended one of their panel of solicitors who was very professional, reliable and completed the transaction on time.”
“To round off my point, I will be utilising Redwoods Dowling Kerr again for another purchase in the near future. I look forward to working with you Asif.”
Lead Negotiator of the sale Asif Musa said;
“It has been a good experience working with both of my clients, and I wish them very best for the future.”