Charity-owned Stratford-upon-Avon day nursery joins Bright Kids group
Specialist business property adviser, Christie & Co, has announced the sale of Quinton Cygnets in Stratford-upon-Avon, West Midlands.
Quinton Cygnets is a popular day nursery with the capacity to care for up to 40 children aged nought to 11 years. It is located in Lower Quinton in Stratford-upon-Avon.
The setting was owned by Cygnets Education and Childcare Trust for 13 years and was brought to market as part of a strategic decision to downscale the charity’s nursery operation.
Following a confidential sales process with Jassi Sunner at Christie & Co, and with funding sourced through Ashley Clements at Christie Finance, it has been purchased by Tricia Wellings of Bright Kids and marks the group’s eighth nursery setting. Under its new ownership, the setting will be renamed ‘Bright Kids Lower Quinton’.
Linda Findon, Chair of Trust at Cygnets Education and Childcare Trust, comments, “We bought what was the old doctor's surgery in the village, immediately opposite the local school in 2010, having identified a community need for the services we have provided elsewhere for over 40 years. The building was converted specifically to operate as a nursery setting and underwent much refurbishment at the same time. Continuing to operate the site as part of a charity has been difficult over the last few years and we felt it could be run more effectively by another type of organisation that would secure its long-term future. Tricia was known to us and, sharing some of our ethos, we felt Bright Kids, as a buyer, would be the right sort of company to take over the setting. We wish Tricia and Bright Kids every success, especially at Quinton.”
Tricia Wellings, Managing Director at Bright Kids, comments, “Bright Kids Nursery started in 1999 with its first nursery in Studley Warwickshire. Since then, it has grown into a small family group and welcomes this addition of its eighth nursery. It has two other nurseries in Warwickshire, two in Worcestershire, two in Coventry, and one in Birmingham.
“We were particularly interested in Quinton Cygnets because of its great rural location and being close to our other Warwickshire nurseries. The size and dynamic of the nursery also fit well with our expansion plans. We can see great potential for further development of the Lower Quinton nursery, and have already started putting new ideas in place. We are looking forward to bringing our unique childcare services to the community around Lower Quinton.”
Jassi Sunner, Associate Director – Childcare & Education at Christie & Co, comments, “Situated on the outskirts of Stratford-upon-Avon, the nursery was always going to attract a range of interest from local operators and first-time buyers. Once Tricia had expressed an interest, we knew it was a good fit for all concerned due to the experience that Tricia’s team could share with the team that was assembled at Cygnets. We quickly negotiated an offer at the asking price and, with the support of our colleagues at Christie Finance, we helped the buyer secure the purchase in the best time possible, despite a few hurdles. We wish Linda and the charity all the best with the remaining settings and look forward to working with Tricia again as she continues to expand south of Birmingham.”
Ashley Clements, Finance Consultant at Christie Finance, comments, “It was a pleasure to secure the funding package required to assist with this purchase. The childcare sector continues to be a ‘green light’ sector for a lot of lenders. Challenges can be seen when applying for funding as an operator with numerous settings with lenders having adjusted their policies and appetite in the last few years. Our ‘whole of market’ approach produced lots of interest from a number of lenders for Tricia to consider, which resulted in a very competitive funding package. Lenders still have a desire for experience and a proven track record in this sector, and funding is still available for first-time buyers under the right circumstances.”
Quinton Cygnets was sold for an undisclosed price.
For further information on this press release, contact:
Phoebe Burrows, Corporate Communications Manager
P: 07540 063 598 or E: email@example.com
Contact the agent:
Jassi Sunner, Associate Director – Childcare & Education
P: 07791 979 343 or E: firstname.lastname@example.org
Contact Christie Finance:
Ashley Clements, Finance Consultant
P: 07714 138 984 or E: email@example.com
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