The corporate team at BPE Solicitors has acted for the Cheltenham care home owners, Summerfield Medical Limited, in the recent sale of its care home to specialist investment firm, Target Healthcare REIT, for £7.3 million.
Led by Associate Solicitor Adam Kean, the law firm’s corporate team supported the share sale and reorganisation of Summerfield Medical, which is the 13th tenant acquired for Jersey based Target Healthcare REIT. Upon the sale, the care home was let to a subsidiary of the Caring Homes group, a UK-wide care home operator, and is now subject to a 35 year lease.
Summerfield Medical Limited, also known as The Summerfield Nursing Unit, provides nursing care for patients aged 18 and over in hotel style accommodation. The large purpose-built site features landscaped gardens and state of the art treatment facilities, along with 66 en-suite bedrooms.
Keith Coghill, Managing Director at Summerfield Medical Limited, said: “We are delighted with the result of this sale. The service provided by Summerfield Medical Limited is unique and complex by nature, and we chose to work with BPE because of its reputation and professionalism. The project required a lot of dedication and hard work, and we are grateful for the help provided by Adam and his team at this stage of our business.”
The corporate team at BPE pride themselves on their sound legal advice and support of businesses throughout their development. They are more than just lawyers; they are trusted business advisers for their clients, and aim to help structure businesses to achieve sustained growth. From starting a new business to development through growth, joint ventures, buying, selling, or floating on the stock market, BPE’s corporate team has the breadth and depth of experience to support a business through every stage of its lifecycle.