National Housing Group acquires Faringdon Lodge care home in Essex through Christie & Co
Specialist business property adviser, Christie & Co, has announced the sale of Faringdon Lodge in Romford, Essex, to National Housing Group.
Faringdon Lodge is a closed care home comprising 23 bedrooms, 14 of which have en suite facilities, on 0.343 acres of land. The site is located on a secondary road in Romford which consists of a mixture of commercial and residential properties. Subject to planning permission, the property has plenty of potential for conversion and development. The business was previously owned by TL Care (Havering Limited), who decided to sell to concentrate on its 40 en suite bedroom care home, Meadowbanks, in Upminster.
Faringdon Lodge has been purchased by National Housing Group, a recently established company that works in partnership with national housing associations, councils, and charities.
Speaking on behalf of the NHG, founder and CEO, Mr Stephen Wasserman, comments, “We’re excited to have secured Faringdon Lodge and have plans to invest in the property and refurbish and improve the facilities. I’d like to thank Jordan Oborne and Joanne Mathers and everyone at Christie & Co who supported us through this purchase, and I look forward to dealing with them in the future”
Jordan Oborne, associate director at Christie & Co, who handled the sale, comments, “The sale of Faringdon Lodge was agreed during the summer of 2020, part way through the Covid-19 pandemic, and demonstrates great buyer confidence in the care property market. National Housing Group are a perfect buyer for this site and have some exciting development plans in the pipeline. Best of luck to Stephen and the team in their latest business venture.”
Faringdon Lodge was sold off an asking price of £1,400,000.