Excelcare acquires homes from receivers
FPDSavills has reported the sale of four corporate specification, purpose built, dual registered homes on behalf of the joint administrative receivers of Claremont Care Ltd and Personal Care Homes Ltd. FPDSavills were instructed by Robert Pick and Michael Gerard of Grant Thornton, joint administrative receivers for Claremont Care and Personal Care Homes in April. Sixteen offers for the homes were received. The successful purchaser, Excelcare, owns and operates 20 care homes throughout Cambridgeshire and London. Senior debt for the deal was provided by Bank of Scotland Specialist Property Finance. The group was sold at substantially in excess of its asking price of Â£6 million.