The freehold of the purpose-built Busy Bees children’s nursery building at Chase Meadow, Warwick has been sold for £2.3 million.
The investment sale of the 6,470 sq ft building to Westend Investments FZC represented a net initial yield of 5 per cent. Vendor Atlas Land Ltd was represented in the transaction by the Birmingham Capital Markets team of Knight Frank.
Jonathan Devaney, partner at Knight Frank, said: “Our client purchased the site, agreed a pre-let with Busy Bees, and instructed Coltham Development to construct the building to Busy Bees’ exacting requirements. It is the nursery group’s first new-build nursery and will form the model for others that follow.”
Busy Bees is now the UK’s largest childcare provider, with 342 nurseries across the UK.