Happy Tree Day Nursery in Croydon acquired by Olive Tree Nurseries
Happy Tree Day Nursery, one of the largest childcare settings in the London borough of Croydon, operates from a spacious and prominent single storey ground floor property, which was purpose-built by the previous owners to create a practical and engaging day nursery for children aged 0 - 5. With effective operating capacity for 88 children and further contiguous space to expand the setting, the management-run day nursery boasts a 'Good' rating from Ofsted together with an excellent reputation within the community.
The nursery founders, Kay Patel and Majella McElwee, took the decision to dispose of the nursery in order to pursue other interests, and Merrill Hays were instructed by the landlord, Ramesh Dewan, to secure a new nursery tenant for the premises.
David Howell, Director at Merrill Hays, commented: "We were instructed by the property landlord to find a suitable nursery operator to take over the setting under a new lease, and we are delighted to have secured a new tenant. In a confidential and structured sale process we targeted the most appropriate buyers within the sector. We received a high level of interest from both acquirers in the UK as well as a number of overseas nursery chains looking to enter the London nursery market. It was important to the current owners that we identified a buyer that would continue to support their loyal staff and develop the business going forward. In total 43 nursery buyers signed NDAs to learn more about the opportunity. 18 buyer viewings were arranged, leading to six formal offers to acquire the setting. It was Olive Tree Day Nursery in South London who demonstrated the clearest vision for the setting and who were chosen as the right acquirer to move forward with."
Kay Patel, co-founder of Happy Tree Croydon said: "We have built a very good relationship with Merrill Hays over a period of time as their reputation within our sector as nursery business brokers and advisors is second to none. David and the Merrill Hays team not only found the right deal from the right buyer but they showed insight, tenacity and determination throughout the entire process, enabling us to exit the business and for the landlord to agree terms with a new nursery tenant. I have no hesitation in recommending Merrill Hays for anyone selling or leasing their day nursery."
Happy Tree Day Nursery was acquired by experienced local nursery group Olive Tree Day Nursery, making an excellent addition to their existing portfolio.
Founder and Owner of Olive Tree Nursery Group, Maryam Hussain commented: "I am delighted to acquire the Happy Tree Nursery setting, which will become our third nursery in South London and will sit alongside our other nurseries in Battersea and Brixton. After viewing the nursery and meeting the superb management team and staff we recognised the passion that the staff have for early years education which resonated with the ethos of our nursery group. The setting has huge potential for future growth and we look forward to rebranding the nursery to sit alongside our other Olive Tree day nurseries. As we commence the transition process we are excited to build upon the outstanding service levels already in place and look forward to supporting the children, their parents and the loyal team of staff."
Happy Tree Croydon was sold with the benefit of a brand new FRI lease for an undisclosed sum.< Back to other news