Peter and Claire McGailey have acquired Lyngate Care Home in Bolton in a £1.4 million deal backed by the Royal Bank of Scotland (RBS).
Peter and Claire McGailey have acquired Lyngate Care Home in Bolton in a £1.4 million deal backed by the Royal Bank of Scotland (RBS).
The husband-and-wife team have a track record in the care home sector, previously owning the Majestic Care Home in Blackpool. They have plans to develop the Victorian property, which can accommodate up to 41 residents.
Peter McGailey said, “There is a strong demand for residential care in Bolton, and our aim is to provide residents with a high standard of care in a homely environment.”
Dickson Haslam provided legal advice to RBS. Dominic Hester, the partner who led the transaction, commented, “My role was to oversee the transaction to ensure that RBS’s interests were fully protected.
“The deal was unusual because completion was delayed until after 1 October 2008, which meant that we were able to take advantage of changes to the ‘whitewash procedure’ introduced by the Companies Act 2006.
