A COUPLE who have run a care home for the past 30 years are looking forward to their retirement after selling their business.
Oaklands Care Home – registered for 31 residents with elderly and dementia care needs – has been sold to Bethesda Healthcare Limited.
Specialist business property adviser Christie & Co advised on the sale of the Waterlooville care home.
The care home, in Stakes Hill Road, occupies a former farm house property, providing 21 single and five twin bedrooms, with 12 of the rooms featuring en suite facilities and the majority located on the ground floor.
The main building links to a chalet bungalow, which has been used for staff accommodation and additional resident bedrooms.
Planning permission has been granted to expand the property, creating a further 19 bedrooms, which the new owners plan to undertake soon.
Tim and Vicky Maloney, the previous owners of Oaklands Care Home, first purchased the property 30 years ago.
Tim said: ‘It was a tough decision to sell our business which we have enjoyed running since 1988, however, we felt that it was time for Vicky and myself to retire.
‘We are pleased to be handing over the business to a local provider who can implement the planning permission and take the home to the next level.’
Daniel Agoye, general manager of Bethesda Healthcare Ltd, said: ‘We are delighted to be purchasing this well performing care home and we wish Tim and Vicky a relaxing, well-earned retirement.
‘Oaklands is an ideal purchase for our company as it links well with our three other care homes in the general area and we look forward to working with our new residents, their families and staff.’
Charles Phillips, director at Christie & Co’s Winchester office, handled the sale.
He said: ‘Oaklands generated a high level of interest from local and national care operators when we brought it to the market, in part was due to its good trading position and also the planning permission to expand its capacity.
‘It has been a pleasure acting for Tim and Vicky and we are delighted to have achieved a sale for them to Bethesda Healthcare.
‘This is the second care home we have sold to the purchaser and with their local knowledge, we are confident that they will be very successful.’
Tim said he was pleased to work with Christie & Co.
He said: ‘It has been a pleasure working with Charles, and his advice and support helped us to achieve a positive result.’
Bethesda Healthcare also runs Kinross Residential Care Home, in Havant Road, Drayton, which has 29 beds, Otterbourne Grange Residential Care Home, in Grange Drive, Otterbourne, which has 25 beds, and Westhampnett Nursing Home, in Stane Street, Westhampnett, which has 32 beds.