Allegra Care buys four more care homes

Grove Care has sold its four care homes to the care home operator Allegra Care and Moorfield Group.

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 £125m portfolio of modern, fit-for-purpose nursing, dementia and care homes across the UK, with a focus on areas supported by favourable demographic trends.

The sale, advised by RWK Goodman, comprises Olive Tree House and Rose Garden in Patchway, Bristol, and Blossom Fields and The Grove in Winterbourne, South Gloucestershire.

Both homes have an excellent occupancy history and together boast a total of 183 beds and both ‘Outstanding’ and ‘Good’ CQC ratings.

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.

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