First-time buyers snap up day nursery group

Songbird Limited, a group of two nursery settings near Hull, has been sold for an undisclosed sum.

The deal was arranged by specialist business property adviser, Christie & Co. Funding for the buyers was sourced through Christie Finance.

Songbird Limited comprises Songbirds Hedon and Songbirds Day Nursery and Kids Club which, combined, have capacity to care for up to 120 children aged up to 11 years.

The nurseries are located less than a mile apart from each other, in the villages of Hedon and Preston. The first setting, Songbirds Day Nursery and Kids Club, was established in 1997, and Songbirds Hedon was added to the portfolio in January 2019.

The group was previously owned by Susan Goodwin and was brought to market to allow her to retire from the sector.

Following a confidential sales process, the group has been sold to first-time buyers Shane and Katy Stevenson, who have an educational background.

Goodwin said: “After 39 years of working and 25 years owning my childcare businesses, I felt the time was right for me to take early retirement as I couldn’t input anymore emotionally or move forward with the business.

“I’d like to wish the new owners, Katy and Shane, all the best for the future.”

The Stevensons added: “This has been our first experience of purchasing within the early years sector as we are new to the market.

“We initially investigated buying one of the two settings that were on the market, as we assumed the funding for both settings would not be possible.

“After we met with Emma of Christie Finance, we were advised that we could purchase both settings and we received more funding than we first anticipated.

“The Songbirds settings have an extremely good reputation. We have taken on a fantastic team of staff, who have vast early years knowledge.”

Vicky Marsland, associate director – childcare & education at Christie & Co, who handled the sale, said: “While it’s not been without its challenges, it has been a pleasure working through this process with Susan.

“The nurseries are perfect for Shane and Katy, being local to the area and with a background in education.”

Emma Vanson, finance consultant at Christie Finance, said: “It was a pleasure to assist first-time buyers, Shane and Katy, with the funding for Songbirds Day Nursery.

“The nursery sector is still considered as a green sector for lenders and competitive terms are available.”