Clifton Agency are pleased to report the purchase a long-let nursery within the Regency Heights Scheme in Park Royal on behalf of a retained private investor for £2,000,000 (5.65% NIY).
This newly developed, Greater London Day nursery forms part of a wider residential development built by Fairview Homes and is single let to Cranbrook Day Nurseries Ltd (trading as Little Tigers Nursery) for 25 years without break. The property produces a rent of £120,000 per annum which is subject to five yearly index linked reviews to CPI with a collar and cap of 2% and 4% respectively.
Ben Simpson commented:
“It was particularly pleasing to agree terms with Fairview Homes off-market having just missed out on another nursery they were selling in East London. Clifton Agency remain particularly active in the education sector and have a number of upcoming nursery sales.”
For further information on this deal, or to discuss any nursery investment requirements, please contact the team at Clifton Agency.
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