Case Study: Freshfields Nursery School
Day nursery sale in Warwickshire
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Freshfields Nursery
Location: Warwickshire
Intro & Challenge:
Christie & Co was well known to the client, Family First, thanks to brokering the sale of over 55 day nursery settings to them since 2020.
To avoid breaching lending covenants which precluded them from holding property on their balance sheet, Christie & Co was instructed to sell the freehold investment on a sale and leaseback basis.
Our work:
Christie & Co undertook a highly-confidential sales process, with strict time restraints on the process due to the clients requirement to dispose of the property.
Due to the comprehensive understanding of the day nursery landscape, performance of the setting and strength of the covenant, Christie & Co was able to approach a highly-targeted list of potential investors on a strictly confidential basis.
Result:
The deal concluded within 6 weeks of being instructed with a specialist investor acquiring the property with a rent reflecting a NIY in the region of 7.5%.