Buyers queuing up for day nursery properties

Currently all day nurseries on the books of Christie and Co's Manchester office, which covers the north-west of England and north Wales, are under offer, with many buyers still looking for properties.

Christie and Co associate director Cirion Plant said, 'We are seeing a situation now where the market as a whole is on such a positive footing that many nurseries are going under offer within weeks and there is a distinct shortage of quality nurseries to offer waiting purchasers.

'The range of purchasers mean that day nurseries ranging from 30 places upwards are extremely saleable, and indeed the market for the 30-to-40 place nursery is equally as strong as the 50-plus place corporate market.' Daycare providers who want to expand are also showing interest in buying and converting nursing homes, according to Kenneth Yates of the Glasgow branch of Christie and Co. He sold Woodvale Residential Home, a former nursing home, to Harlequin Nurseries which has just launched a 24-hour nursery there (see page 4). He said, 'We are trying to sell underperforming small residential homes in good areas within cities to nursery operators.'