The retiring owners of the CQC-registered, 20-bed Cornelius House residential and care home for the elderly and disabled, in Fishbourne, West Sussex, have sold 100 percent of the business to care home group Alchemy Care Holdings Limited in the deal brokered by Lodders – the firm they used when they purchased the home in 2005.
John Kellas and his wife were each 50 percent shareholders of Cornelius House, which provides full time and respite care to up to 20 residents.
Head of Lodders Corporate & Commercial team in Stratford upon Avon, Kim Klahn acted for Mr and Mrs Kellas, with support from associate Leanne Lawrence, and Victor Matts, former head of the team who acted for the couple on the home’s purchase in 2005.
Kim explains: “Mr and Mrs Kellas took the decision to sell Cornelius House as part of their retirement plans.
“Having made the decision, the aim was to find a buyer and complete the sale as quickly as possible. John turned to Lodders for legal advice and support on this important transaction, being familiar with the firm’s capabilities and expertise in this area, especially in share capital transactions, from when he purchased the home 15 years earlier. The timing of the sale was significant for Mr and Mrs Kellas for personal reasons, and we succeeded in progressing to completion quickly.”
John Kellas adds: “Kim and the Lodders team have been consistently professional and quick to respond to every request throughout the transaction.”
Kim adds: “We have seen a rise in the volume of private care home sales and purchases this year – the sale of Cornelius House is the fifth deal of this type completed so far in 2020. Our experience in the sector is leading to more and more care homeowners instructing our team so they too can benefit from our knowledge in this area.”