Clifton Agency are pleased to report the sale of the new Rainbow Angels nursery in Rainham, Essex on behalf of Countryside Properties.
After competitive bidding the property sold well in excess of quoting terms at £2,100,000, reflecting a 5.82% net initial yield.
Newly developed by Countryside and L&Q, the nursery is arranged over ground floor totalling 7,022 sq ft with the benefit of 1,860 sq ft external courtyard and 4 parking spaces.
Part of the regeneration of the iconic Ford Car Factory, the wider site will deliver 3,000 new homes (50% of which will be Affordable housing). The nursery be an integral part of the new Beam Park community, comprising other essential amenities and services; from medical uses, a retail hub and a nearby school.
The sale offered the purchaser a secure 30 year index linked unexpired term, let to a contemporary flagship nursery and generating an income of £130,000 per annum.
Clifton acted solely on this sale which represents our fourth transaction in the education sector.
Further details are available upon request.
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