With Ofsted outcomes of ‘Good’ at all three settings, previous owner Karen Veitch had built up an enviable reputation for providing the highest levels of childcare in the bustling commuter locations of Crook and Stanley in County Durham. Having decided to sell the nurseries due to retirement, Karen was on the lookout for enthusiastic new owners who would be able to build upon what has already been achieved at each of the settings.
The trio of nurseries benefits from growing annual turnovers and consistently healthy profits which are boosted further by a successful crèche business which was also included with the sale. Boasting a combined capacity for 144 children, with further scope for development, the high profile group generated a strong level of interest when it was introduced to the market. The group – a mix of Freehold and Leasehold tenure - has now been sold a keen first time buyer who is eager to maintain the standard of the settings and encourage the business to flourish even further.
Sofia Beck, Childcare Agent at Christie & Co who managed the transaction comments, “The North East is becoming an increasingly popular location for nursery buyers as the demand for high quality settings is at an all time high. Operators are realising that whilst nursery fees may not be quite as high for a premium product in parts of the North East, they are able to achieve comparative profits to that of the South with the added bonus that the real estate prices are not as lofty!
“We wish both the seller and the purchaser all the best for the future.”