Road Lodge, Exeter SOLD

Substantial bed and breakfast establishment sold to local learning disabilities group

Trading as a commercial guest house, with 9 letting rooms, and situated in a prominent main road position, the Road Lodge in Exeter has recently been sold by licensed and leisure property specialists, Stonesmith of Exeter. The business has been bought by Exeter based care company Regents Park Ltd, who specialise in learning disability care.

Regents Park Ltd provide support for children and young adults with a learning disability in the Exeter and East Devon area. They also offer support for families and carers and provide a diverse range of services. The company was started 10 years ago by Larrainne Thorne. Larrainne has a background in nursing and is a level 1 Registered Nurse specialising in learning disabilities. She has a loyal and longstanding workforce and over the years has built up an enviable reputation for the care they provide. The purchase of the Road Lodge is with a view to providing a bigger premises for specialist child care and to meet the needs of their expanding business.

The property provides 3 floors of accommodation and dates back to approx 1850. It is highly visible and imposing dwelling on one of the main arterial routes into the city.

The property is presently being converted to provide accommodation for 5 learning disability children with 24 hour care and one to one cover. The en-suite bedrooms are being decorated to make them personalised and child friendly and there will be a purposely equipped for soft play room, sensory room and vision impaired light room.

Mike Phillips, of selling agents Stonesmith commented “Our high profile marketing of the Road Lodge attracted several offers from interested parties within eight weeks of the business coming to the market with Stonesmith, after it had previously been on the market with a national agent for some time with no interest.”

A freehold property, Stonesmith sold the Road Lodge off a guide price of £525,000