A Penrith care home has been sold to new operators.
Croft Avenue Residential Home has been taken over by Kim and Phil Rogerson, of PH Care Group.
The home, around half a mile from the town centre, can support up to 30 people. It is the seventh home PH Care Group has bought.
It was previously run by HC-One, which announced it March 2021 that it would sold as a going concern as part of a wider scheme to sell off 52 of its homes across the country.
PH Care Group was set up in 2009 and also runs Abbotsfield in Barrow, Greenlane House in Brampton and Inglewood in Carlisle.
The sale price was undisclosed but recent valuations estate the property was worth £1.5 million. Kim and Phil were able to buy the home with funding sourced through commercial finance specialist, Christie Finance.
Kim said: “When Croft Avenue became available for purchase, we felt that the time was right to expand with the property being in the right location for us and having a lot of potential for the future. The market is currently quite tricky, but we managed to find a funding solution in the challenging post-COVD climate.”
Alena Ray, associate director at Christie Finance, arranged funding for Kim and Phil and said: “It was an absolute pleasure to work with Kim and Phil. They have their finger on the pulse when it comes to understanding the needs of their residents and they are committed to providing an exceptional level of care.
“With an ever-changing lending landscape in the care sector, it was important to source a lending solution that would complement their current and future needs. I am extremely pleased that I was able to assist the Rogersons, and I wish them all the success.”
