Property Title: Children's Day Nursery - Devon

Property Type: Day Nursery / Nursery school

For Sale / Sold: Sold

Date Posted: 06 Jun 2019

Location: Cullompton, Devon

Guide Price: £65,000 (Leasehold)

Property Agency: Abacus Day Nursery Sales

Reference: 6824

Description

Children's Day Nursery - Devon

• Established 1999
• Accounts Available Year End 31st March 2019
• Annual Turnover £140,241
• Gross Profit £138,139
• Net Profit £42,035
• Accounts Available After Viewing
• Registered For 26 Children
• OFSTED Rating GOOD
• 5 Star Food Hygiene Rating
• No Advertising Undertaken
• Scope To Increase Number Of Places
• Retirement sale
• EPC - G

Leasehold: £65,000

Blacks Business Brokers are pleased to bring to the market this leasehold established children's day nursery located in a residential area of Cullompton, Devon.

INTRODUCTION
Young One's Day Nursery has been trading on Tiverton Road since 1999. Our client established the business here to meet local demand for quality childcare in this busy area. The nursery has a superb reputation, five star hygiene rating and excellent reviews are noted on Google and Facebook. The nursery is registered for twenty six children from a few weeks to five years old, the business also offers 8 places in the before and after school club for ages five to eleven.

LOCATION
The business is positioned within a densely populated residential area and is close to the local primary school. The area is well linked by the M5 and has good public transport links. Cullompton is a fast growing market town in Mid Devon, with multiple new housing developments being added. Currently there are 2 primary schools in the town, a 3rd is to be built to accommodate increasing numbers and demand. There is also an expanding Community College. Cullompton has good M5 access at J28 for links to Taunton, Exeter, Plymouth and further afield

REASON FOR SALE
The business is offered sale due to our client's wish to retire.

LEASE
The building is available at a competitive rent on a Full Repair and Insure lease (FRI). This is the most common form of commercial lease. The current lease is 3 years and began in 2016 - the lease is available for renewal in December 2019. Rent reviews are every 3 years and the lease cost is £202 per week. The landlord has advised they're happy to grant a new 3 or 5 year lease to a new owner.

BUILDING LAYOUT AND DESIGN
Young One's Day Nursery operates from the ground floor of a spacious, detached property. The business is well branded with large signage displayed above a secure gated frontage. Inside, the main entrance leads into a hallway which leads into the nursery cloakroom. The main nursery area is open plan and is sectioned off into a sensory/ baby area, toddler area and pre school area. There is also a separate sleep room. To the rear of the building are children's toilet facilities, an office and a fully equipped kitchen. The kitchen area has an entrance which leads to an outdoor artificial grass play area.

There is also a second floor space which is currently used for storage.

To the front of the premises is a pick up/drop off point. Inside the gated frontage is the playground and looking to the right is a woodchip play area. STAFF
The business currently operates with four members of staff in place. There is one full time assistant manager and one part time assistant manager along side two part time nursery nurses supporting our client who manages the business on a full time basis. All staff are level 3 qualified.

FINANCIAL DETAILS
Young One's Day Nursery has traded well since opening. We are advised that the business currently has an annual turnover of £140,241 and gross profits of £138,139 with a net profit of £42,035 based on the accounts year ending 31st March 2019. Full financial details are available after viewing.

BUSINESS RATES
The business rates payable are £138 per month.

SUMMARY
This leasehold business occupies a superb trading position in a busy area of Devon. There is plenty of scope to expand the business further, a new owner could extend into the upstairs area that is currently used for storage and therefore increase the number of children that can attend the nursery. There is also little advertising undertaken at present with the majority of custom is word of mouth so this is also an area that a new owner could expand on. This proposition would ideally suit an owner operating team who could push the business forward to build upon the solid and impressive trading foundations. Early viewings are strongly advised.

Fixtures & Fittings
All Fixtures & Fittings Included

Financial Information
Annual Turnover: £140,241
Gross Profit: £138,139
Net Profit: £42,035
Rent: £202 Per Week
Opening Times
MON - FRI: 08:00 - 18:00 - 50 Weeks Per Year