November 1, 2012

Withy King advise expanding care home operator

Withy King’s commercial property team has seen a busy few months advising growing care home provider, Gold Care Homes.

During 2012, the team have so far advised on the acquisition of three care homes across the UK with Gold Care Homes set to acquire more homes in the coming months as part of their continued expansion plans.

The three homes recently purchased are St Stephen’s Care Home in Worcester which is a 51 bedded residential home, The Tudors Care Home, a 43 bedded residential and residential dementia care home in the village of Stanground near Peterborough and Martins House in Stevenage which features 60 en-suite bedrooms.

As part of one transaction, Withy King was able to work with the client’s accountant to structure the deal so as to qualify as a transfer of a going concern. On another transaction a bespoke escrow agreement was put in place to enable certain essential works to be carried out following exchange of contracts to enable the home to be registered for the provision of dementia care.

Sukhi Gidar of Gold Care Homes said, “We have worked with other firms of solicitors in the past but have been impressed by the speed and level of service provided by Paul Daniels and his team at Withy King. They are able to cut through the issues and help us focus upon the main commercial issues to be resolved.”

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