Thursfields advises on purchase of care home | Commercial property
Thursfields Solicitors has advised the purchaser of a former care home in Northampton which will now be adapted for supported living.
Senior Associate Stewart Coles, a commercial property lawyer in Thursfields’ Halesowen office, led the team which advised CJS Care (Northampton) Ltd on the purchase of Trinity House, a Victorian former nursing home.
Care homes specialist Salim Lalani, a Director of CJS Care (Northampton) Ltd which has acquired the property with vacant possession for £710,000, will now oversee a six month conversion of the building into 14 flats to provide supported living accommodation.
He also owns Stepping Stone Care Homes which has three other similar facilities in the Northampton area.
Stewart Coles said: “We were introduced to Mr Lalani by the selling agent Redwoods Dowling Kerr due to our reputation and expertise in dealing with care homes.
The buyer was given a short ‘exclusivity period’ in which to exchange contracts, meaning that we had to act quickly to get the deal done within the required timescales. We were instructed at the end of October, exchanged contracts on 22 November and completed on 16 December.”
Mr Lalani said: “Thursfields quickly understood the deal and the time constraints and Stewart Coles kept us in touch with the process through to completion, demonstrating their understanding of the particular requirements of the care home sector.”
Stewart Coles added: “In recent months, we have completed four care home-related transactions and currently have a further seven transactions underway, with several more in the pipeline.
Care homes and the legal issues that surround them are an area where Thursfields has developed a particular expertise and we have a growing national reputation in the health care sector.”