Bobbles Nursery City Road, Fenton, ST4

LOCATION

The property is located in a mixed commercial and residential area in Fenton and is prominently located with a frontage to City Road (A5007) and an extensive return frontage to Elsing Street. There is a densely populated area of housing within close proximity and a large area of land adjacent to the site has just been granted planning permission to build 67 apartments and 28 houses (Application 63095/FUL), which will significantly improve the area.

DESCRIPTION

The premises briefly comprises a detached part two storey children’s nursery extending to 5,099 sq.ft. (NIA) together with external play areas and onsite parking. Internally, there are a number of different sized rooms together with staff facilities and a commercial kitchen and the property is currently registered for 114 children.

ACCOMMODATION

Refering the attached floorplan, the property is mainly arranged on ground floor although there are a number of rooms at first floor level used for older children who attend after school clubs.

Ground Floor:4210 sq.ft.

First Floor: 889 sq.ft.

Total NIA:5099 sq.ft.

SERVICES

All mains services are connected. Gas fired central heating is installed throughout and the property benefits from UPVC double glazing. No services have been tested by the agents.

TERMS

Freehold, subject to contact and completion of a new 15-year FRI lease in favour Bobbles Day Nursery Ltd.

OUTGOINGS

BUSINESS RATES

Rateable Value:£28,000 (Effective 1/4/17)

VAT

The sale price is not subject to VAT.

OTHER

EPC

Band E – Asset Rating 102

INVESTMENT OPPORTUNITY

Bobbles Day Nursery Ltd is an established business which originally began trading in March 1991. The business moved into the current premises in March 2004 after the owners of the business brought the freehold interest. The business trades profitably and when last inspected by Ofsted (28/3/14) achieved an ‘Outstanding’ report. The property is registered for 114 children and employs between 19 and 23 staff and audited accounts up to April 2018 are available for interested parties to inspect. On offer is the opportunity to acquire the freehold interest in the property which will remain occupied by Bobbles Day Nursery Ltd for a 15-year lease, subject to five yearly upwards only rent reviews at an initial rent of £36,000 pax. A purchase at £395,000 with a passing rent of £36,000 provides a Return of 9.1%.

VIEWING

As the business continues to trade all viewings are strictly by appointment only.