Former Wolverhampton care home to reopen as a specialist care centre under new ownership
Specialist business property adviser, Christie & Co, has announced the sale of former nursing home, The Sycamores, in Wolverhampton.
The Sycamores care home formerly sat in a detached, purpose-built property constructed in 2001, which comprises 84 single bedrooms, all with en suite facilities, laid out over three floors. The building boasts wide corridors and day space provision on each floor.
The business was operated by its previous owners until October 2020, when they decided to close the home to concentrate on their larger estate in Scotland. It has been purchased by a Birmingham based specialist care operator which plans to refurbish the property and reopen it as a specialist care centre.
Paul Reilly, Director at Christie & Co who handled the sale, comments, “The home was launched for sale in February 2021 and attracted considerable interest from both regional and national care operators and local developers for alternative use. We completed over 30 viewings and invited offers and, following a first round bid, we received nine offers all in excess of the guide price, inviting the best buyers to a final round of offers which resulted in the sale to the new owners who intend to refurbish the property and reopen it as a specialist care centre.
“Demand for care continues to outstrip supply with both trading and non-trading homes in the West Midlands.”
The Sycamores was sold for an undisclosed price.