Doctors purchase first care home in Shropshire
Business partners, Dr Gaurav Chaudhary and Dr Rajni Singh have purchased Cliffdale residential care home in Pontesbury, Shrewsbury with funding secured by specialist commercial finance broker, Christie Finance.
The 18th century, Grade II listed care home includes 23 bedrooms, 16 of which are en-suite. The home specialises in caring for dementia patients aged 65 and above, enjoys a ‘Good’ CQC rating as of May 2016 and achieves consistently high occupancy rates.
Stuart Pawelczyk, Director at Christie Finance who helped secure the deal, said: “It has been incredibly exciting to support Dr Chaudhary and Dr Singh on the purchase of Cliffdale residential care home. Both doctors are highly educated with varied medical backgrounds and possess the desired skills, acumen and experience to take on this established care home.
“They share equal history of working in a sector that is also regulated by the Care Quality Commission with transferable skills suitable for managing the business. I am sure they will be a huge success at Cliffdale.
“This sale showcases the importance of working closely with the lender to secure funding for a first time buyer, which can often be a difficult process without any previous direct sector experience.”