National player in double nursery swoop
Two East Midlands day nurseries have been sold in deals brokered by property adviser Christie & Co.
Handkerchief Day Nursery and Forest School in Kegworth, Derby, was a former cowshed which previous owner, Nicola Wood, transformed into an Ofsted-rated ‘Outstanding’ setting. It boasts space for around 90 children.
The second setting, Grosvenor House Day Nursery and Pre-School in Edwalton, Nottingham, is also an ‘Outstanding’ rated day nursery which Nicola Wood and Tony Pritchard renovated in 2015. Dating back to the 1880s, this was a former school with a plethora of original features which the pair brought back to life as a day nursery woth capacity for around 160 children.
Together, the nurseries offer a combined income of over £3m and capacity for over 250 children aged zero to five years.
The nurseries have been sold to Family First, which operates circa 75 nurseries across the UK.
Pritchard said: “Making the decision to sell our nurseries was not one we took lightly, and it was important for us to find the right custodians in terms of shared values and ambition. Nick at Christie & Co was able to guide us through the sales process and we were fortunate enough to meet an array of amazing operators. However, upon meeting Craig, we knew that Family First were well placed to build upon what we’d created and more importantly, provide opportunities for the team to develop and grow. We look forward to watching the exciting journey ahead for the team at Family First.”
Craig Grant, development and strategy officer at Family First, added: “We are delighted to welcome on board all of the staff, parents, and children from these two amazing settings. The quality of care and learning that these nurseries offer, combined with the properties which provide fantastic indoor and outdoor environments for all the children, is second to none. From the first time I met Nic and Tony, you could not fail to be impressed by what they have achieved at these flagship settings which fit perfectly into our growth plans for Family First in these locations. We would like to wish Nic and Tony all the best for the future and we are delighted to be able to build on what they have achieved to date.”
Nick Brown, director & head of brokerage – childcare & education at Christie & Co, who handled the sale, said “It has been a pleasure working with Nicola and Tony and being able to appreciate what they have created. On walking into these nurseries, you cannot fail to be impressed by what they offer both the parents and children in terms of aesthetics and childcare. No expense has been spared in making these settings the ‘go to’ leading nurseries in the area. I am delighted that we have been able to secure a fantastic sale for them both, and I believe Family First will build on these acquisitions and continue to grow in the surrounding area. The demand in the East Midlands has continued to grow as buyers begin to expand their acquisition areas looking for more high-quality settings.”
The two nursery settings were sold for an undisclosed price.
