The appetite for former care home properties in the real estate market remains buoyant, as a vacant Welsh care village has been sold for repurposing.

Specialist business property adviser, Christie & Co, has announced the sale of the vacant care home, Maesteg House in Mountain Ash, South Wales.

This vacant property, formerly trading as a care business, comprises a 10-bedroom Victorian detached building located with a prominent frontage on the main road through the village.

Following an open-marketing sales process with Oliver McCarthy at Christie & Co, which resulted in multiple offers from care operators and investors, the property has been purchased by an investor who plans to reconfigure the building for residential use.

McCarthy said: “While appetite from buyers for trading care home businesses of different sizes throughout the country remains strong, there is still a lot of interest in closed care home properties.

“As reported in our Care Market Review 2024, 12% of our deals in the first half of this year involved closed care homes, and 27% of those – most of which were no longer fit-for-purpose – were sold to residential developers.”

Maesteg House was sold for an undisclosed price.