Nursery school under new ownership
A nursery school in Birmingham has been sold off an asking price of around £725,000.
Specialist business property adviser Christie & Co handled the sale of Inglenook Nursery School while funding for the sale was sourced through Christie Finance.
The business has been purchased by existing day nursery operator, Lowdan Holdings – which trades as Mereside Farm Children’s Nursery.
Speaking on behalf of the company, Alan Lowe said: “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.”