Magdalen Nursery Group valued by Christie & Co’s team
Specialist business property adviser, Christie & Co, has provided a RICS Redbook valuation for Metro Bank of two south west London day nursery sites, operated by Magdalen Nursery Group, as well as a vacant property the group has subsequently and successfully bid upon at auction.
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Founded in 2012, and based across two contrasting buildings in Earlsfield, the Nursery Group positions itself as ‘a unique place for unique children’ offering a warm and secure environment where they can play, learn, thrive and grow. The Lodge, aptly named, is the group’s original site housed within a thoughtfully restored Victorian lodge. Whilst The Grove, opened in 2016, is one of the most coveted nurseries in Wandsworth, having been rated ‘Outstanding’ in all areas by Ofsted in their 2018 inspection.
Metro Bank required an extremely fast turnaround on the valuation of the two existing sites, prior to the upcoming auction of the vacant property the group were hoping to purchase. Mindful of this urgency, Christie & Co were able to inspect the two settings and provide the necessary advice to the Bank ahead of the auction date. This ensured Metro Bank had a clear picture of Magdalen Nursery Group’s combined assets and was able to fully fund the purchase of the First Church of Christ the Scientist, Sutton, inclusive of the necessary capital to refurbish the property. Christie & Co were subsequently appointed by the Bank to inspect and value the third site successfully purchased at auction.
Jennifer Gill, Senior Surveyor – Childcare & Education at Christie & Co, comments, “Magdalen Nursery Group are quickly building a reputation as a leading day nursery provider within the south London area. In providing our valuation to Metro Bank, we’re happy to have helped ensure that they are in a position to add an effective operating capacity of 100 additional places to their growing day nursery portfolio. Knowing what they have achieved with their other two settings, we are looking forward to seeing the third site operational.”
Mark Stokes, Managing Director Commercial at Metro Bank, adds, “Metro Bank’s activity within the childcare sector continues to grow, and we are pleased to have been able to offer Magdalen Nursery Group the capital they needed to further expand their presence in south London. The speed of service provided by Christie & Co was invaluable in ensuring that our customer’s needs were met in full.”
Magdalen Nursery Group’s latest setting, valued by Christie & Co and financed by Metro Bank, is set to open on the 7th of January, providing quality childcare to parents living and working within Sutton and the surrounding towns.