Specialist business property adviser, Christie & Co, has announced the sale of Inglenook Nursery School in Birmingham. Funding for the sale was sourced through Christie Finance.
Inglenook Nursery School is a prominent, reputable day nursery with huge potential for growth under new management. The business sits in a converted residential property with significant playroom space and ample car parking for pickups and drop offs, and has an effective operating capacity for 55 children aged three months to five-years old.
Inglenook benefits from being located close to a busy commuter route in a densely populated residential area in Birmingham. The suburbs of Selly Park, Edgbaston, Moor Green, Moseley, Harborne, Selly Oak, and Kings Heath are within close proximity to the nursery, and Birmingham city centre is just circa three miles away.
The business has been purchased by existing day nursery operator, Lowdan Holdings Limited - which trades as Mereside Farm Children’s Nursery – which has been actively looking for second site for a while.
Speaking on behalf of the company, Mr Alan Lowe comments, “We had been looking for some time to purchase another nursery and felt the location, size and potential of Inglenook was what we were looking for. It fits in nicely to our portfolio as it is performing nowhere near its potential and we intend to renovate and rejuvenate the site, extending it slightly while redesigning the layout to make fit for purpose.”
Jassi Sunner, Associate Director at Christie & Co, who handled the sale, said: “Any instruction in Birmingham is going to get a range of interest due to the number of buyers looking in the West Midlands. One that is so central with a prominent building along a commuter route provides unimaginable potential to tap into the changing demographics of the area. We were delighted to be instructed on the sale of Inglenook Nursery School and worked closely with our client and their complex needs to agree a price and then complete the sale successfully in a short amount of time.
“Alan and his team have a strong reputation in South Birmingham already, and we look forward to seeing him make his mark in Central Birmingham and introduce this ethos successfully into a second setting.”
David Ward, Senior Director at Christie Finance, comments: “I am really pleased to have supported Alan and Ruth with their expansion plans and am delighted that we could not only find finance for them, but managed to fund it under the CBILS scheme, which resulted in many cost savings. This was not a straightforward purchase, but we were able to provide a vital link between the buyers and the lender which enabled the purchase to complete.”
Inglenook Nursery School was sold off an asking price of £725,000.
