A Yorkshire-based care home company has acquired a property in Bradford from Priory Group as it looks to double in size.
Strong Life Care, which has its headquarters in Wakefield, has acquired Cooper House for a seven-figure sum, funded by NatWest.
Specialist business property adviser Montane Care brokered the deal on behalf of Priory Group.
Cooper House is a purpose-built property with 80 en-suite bedrooms with wet rooms offering nursing, residential, dementia and respite care since its launch in 2009. It employs 140 staff.
It is Strong Life’s eighth care home in a growing portfolio. Last year, the company acquired sites in Armthorpe in South Yorkshire, Ferryhill in Co Durham and Hessle in East Yorkshire.
Strong Life was founded by Harpreet Banwait, who left a corporate finance career to look after his elderly grandfather in 2010. He bought a care home in Barnsley to place his grandfather and has grown Strong Life into a group employing 560 people.
Harpreet said he is in negotiations for further acquisitions in the north east as well as in the north west, where he is looking to establish a presence for Strong Life.
The group currently has 500 beds across its portfolio and Harpreet said he is looking to double its size over the next 12 to 18 months.
Montane Care director Anthony Rae said: “We generated strong interest from multiple acquirers and it was a pleasure to achieve a quick sale by selecting an existing operator with proven funding.
“The demand for care homes remains strong and we continue to receive interest from companies and individuals seeking to acquire in the sector.”
