Bellavista have successfully operated care homes in Cardiff Bay and Barry for several years, and the purchase of the Waverley takes their portfolio to 231 beds. The home, which offers care for up to 129 residents, is one of the major employers in Penarth, with over 170 locally based staff who specialise in providing nursing, dementia, and functional mental health care.
Capital Law’s real estate, banking, corporate and employment teams advised Bellavista on the various legal aspects of this multi-million-pound transaction – the largest care home acquisition in Wales this year – working closely with Barclays Bank (acting as the funders) and Christie & Co (acting as the estate agents).
Leanne O’Brien, partner at Capital Law, said:
The scale of this deal shows that despite the ongoing pandemic, the social care market continues to attract investment. It’s been a pleasure to work with Bellavista and all the parties involved on this transaction, which required streamlined cross-firm collaboration. Our in-depth knowledge of the care sector helped us navigate through the challenges of the deal and achieve the result the client was hoping for.
Jacob George, Director at Bellavista, said:
The team at Capital worked very hard, and perseverance is creditable. On behalf of all Bellavista, thank you all for your guidance and support