Nursery group expands UK portfolio with new £2m facility

A Staffordshire-based nursery group is set to expand its UK portfolio with the development of a new £2m facility in Bedfordshire.

Birmingham-based developer Coltham will build the new children’s day nursery in Kings Reach in Biggleswade following a successful funding deal.

Able Comm is funding Coltham and once completed, the 5,145 sq ft facility will be taken over by Busy Bees, which has targeted the location because of its growing population.

The investor will be paying in excess of £2m for the completed development and Busy Bees will take a new 20-year lease on practical completion, which is due in January 2018

Stuart Franks, of Coltham, said: “We are delighted to be working with Able Comm on another of our new Busy Bees children’s day nursery facilities, which follows swiftly after completion of our Warwick scheme.

“Biggleswade will be the first of a number of developments utilising the latest Busy Bees layout/specification that we have been working on with them for more than two years.”

David Allen, of Shortland Penn + Moore – who acted for Able Comm, said: “This is strong, growing market for investment.

“We are very pleased to have advised Able Comm in this deal following their purchase of a completed Busy Bees in Milton Keynes last year and we see this as an expanding area of opportunity for investment.”

Franck-Steier Price acted for Coltham.