The Nursery Site is held on a ground lease from the adjoining Secondary School for a term of 21 years from 2002 at a current rent of £8,250 per annum inclusive of rates and subject to 5 year reviews. LANDLORD & TENANT BREAK CLAUSES AT 5 YEAR INTERVALS AND ON TERMINATION.
The Spacious Single Storey Premises comprise:-
A Modular Building constructed around 2003 (circa 2,000sq.ft.) with well-planned
interior consisting of Entrance Vestibule with Manager’s Office adjoining. Three Spacious Open Plan Nursery Rooms. Dining Area. Babies Sleep Room. Two Children’s. Adult / Disabled Toilet. Small Kitchen Area. Staff Restroom.
Outside:- Spacious Fully Fenced Outdoor Play Area. Three Store Sheds.
The business was established by the present owner some 13 years ago and has been run totally by staff under Vendors management supervision. Regrettably due to staff shortages the current owner is having difficulty in maintaining the business and is forced to close on 29th October 2016.
We are advised that the trading level has been circa £173,000 per annum (well below full capacity) with considered excellent potential for an hands-on working owner.
PURCHASE / LEASING OPTIONS
Price required for ground lease, tenant’s fittings, fixtures, utensils and equipment (including ownership of the portacabin style building):- £70,000 (SEE BELOW FOR ATTRACTIVE LOAN TERMS).
FINANCE (SUBJECT TO STATUS):- VENDOR WILL ACCEPT A DOWN PAYMENT OF £20,000 ON COMPLETION WITH THE BALANCE PAYABLE OVER THE REMAINING TERM OF THE LEASE.
Current owner will grant a sub-lease for the fully equipped premises for a term of circa 7 years at a commencing rent of £20,000 per annum for the first 2 years rising to £25,000 per annum for the following 5 years. Rent payable quarterly in advance. Rent deposit £10,000. Landlord / tenant break clause at end of 2 years and on termination. Lease will be outside of Landlord & Tenant Act
Monday to Friday 7.00a.m. to 7.00p.m. Closed Public Holidays.
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