A LARGE Bolton home for the elderly has been sold in a seven figure deal.
Newlands Nursing Home on Chorley New Road, Bolton has been bought by London based Rochefort Healthcare, Ltd.
The 48-bed home was founded 10 years ago by Westhay Ltd, a company owned by Brian Newman.
Rochefort say Mr Newman, also founder of the Newlands Medical Centre, now wishes to concentrate on his work developing a range of nutritional health food and advising sportsmen and women.
Staff have been told their jobs are safe but the owners say they cannot reveal the selling price.
Rochefort managing director Mustak Musa said: "I am bound contractually to keep it confidential but you can say it is a substantial amount, a seven figure amount." Mr Musa has a long background in the hotel business and established Rochefort in 1994. The company also owns a nursing home in Derbyshire and has ambitious expansion plans to buy and invest in a number of homes, totalling 1,000 nursing beds, over the next three years.
Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article