Leading care home portfolio in Bristol and South Gloucestershire sold to Allegra Care and Moorfield Group
We have recently advised the shareholders of Grove Care on the sale of its four care homes.
The sale comprises Olive Tree House and Rose Garden in Patchway, Bristol, and Blossom Fields and The Grove in Winterbourne, South Gloucestershire. The homes have an excellent occupancy history and, together, boast a total of 183 beds and both ‘Outstanding’ and ‘Good’ CQC ratings.
The homes were owned by family-run Grove Care Ltd. Following a confidential sales process with Christie & Co, they have been sold to UK-focused care home operator, Allegra Care, and Moorfield Group, a UK specialist real estate fund manager acting on behalf of Moorfield Real Estate Fund V (Moorfield).
With this acquisition, the pair now own and operate 11 homes across Hampshire, Cambridge, Suffolk, and South Gloucestershire. The two companies aim to create an initial £125 million portfolio of modern, fit-for-purpose nursing, dementia, and care homes across the UK, with a focus on areas supported by favourable demographic trends.
Hazel Phillips, co-Head of our Health and Social Care Team, said: “I have had the privilege of working alongside the team at Grove Care for many years and it has been exciting to see them build a wonderful community of high-quality homes. We are thrilled to have been able to advise and guide them through the sale and look forwards to seeing Allegra Care take the business into its next stage.”
Legal advice for the shareholders of Grove Care was provided by RWK Goodman’s specialist Health and Social Care Team led on the corporate side by Hazel Phillips and real estate by Paul Daniels, supported by Associates Janetta White and Krysha Hunt. Associate Elizabeth Painter provided construction law advice. Rob Plumb of Hazlewoods advised on the corporate finance side
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