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Browne Jacobson advises Methodist Homes on £11.5m acquisition

28 November 2011

Browne Jacobsons specialist social care team has advised Methodist Homes (MHA) on its £11.5m acquisition of Welland Place, Market Harborough, after the developers St Marys Developments (Market Harborough) Ltd fell into administration in April 2011.

The Welland Place development was opened in February 2010, and was Leicestershires first full service luxury assisted living scheme.

Situated adjacent to the River Welland the accommodation offers 103 luxury assisted one and two bedroom living apartments and comes complete with 24 hour emergency care. The facilities also include secure underground parking, onsite restaurant, swimming pool and spa, hairdressing salon, library, gym and entertainment room.

Headquartered in Derby, Methodist Homes is a charity providing high quality care homes, accommodation and support services to more than 15,000 older people throughout Britain.

According to the Care Quality Commission Methodist Homes is one of the leading care providers in the country.

Oliver Pritchard, head of the private social care team at Browne Jacobson, commented:

"We are delighted to have supported Methodist Homes with their acquisition of Welland Place, which marks one of the flagship transactions in the East Midlands care sector this year. I know there is already a great deal of interest in the development from potential residents, and I have no doubt that Methodist Homes will provide the highest quality of care and accommodation possible."

The sale was negotiated with Grant Thornton in their capacity as administrators of St Marys Developments (Market Harborough) Ltd. Grant Thornton was advised by DLA.

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