MHA takes on £11.5m Welland House
Derby-based Methodist Homes (MHA) has purchased Welland Place in Market Harborough for £11.5m following the administration of the site's developer earlier this year.
The Welland Place development was opened in February 2010, and was said to be Leicestershire's first full service luxury assisted living scheme.
Its Market Harborough-based developer, St Mary's Developments, fell into administration in April 2011.
Situated adjacent to the River Welland, the accommodation comprises 103 assisted one- and two-bedroom living apartments.
Headquartered in Derby, MHA is a charity providing high quality care homes, accommodation and support services to more than 15,000 older people throughout Britain.
MHA was advised by the Nottingham office of law firm Browne Jacobson on the deal.
Oliver Pritchard, head of the private social care team at Browne Jacobson, said: "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 its capacity as administrator of St Mary’s Developments (Market Harborough) Ltd. Grant Thornton was advised by DLA Piper.
