On behalf of Barrachnie Nursery Ltd, Walton Healthcare Property Consultants are pleased to announce the sale of Barrachnie Children's Day Nursery.
The nursery which is located in the Garrowhill area of Glasgow and trades with around 60-70 children, was purchased by new entrants to the sector for a non-disclosed sum above the asking price of £675,000.
Gary Walton, Director, who handled the sale commented
"Businesses such as Barrcachnie which have a good reputation, established trading history and are reasonably priced, are in demand and, in most cases, still attracting traditional bank funding. This was confirmed during our marketing process where we received a number of interests from both existing operators and potential new entrants to the sector all with funding in place."
Anne Kaya, director and owner, Barrachnie Nursery Ltd said
"after 20 enjoyable years of starting and running the business, I am now looking forward to our retirement knowing the business will continue to trade well and hopefully sustain its reputation in the market place in the hands of Mr and Mrs Arfan. We appointed to Gary to handle the sale given his wealth of experience in advising on similar business transactions. His knowledge and understanding of the transactional process involved in selling a nursery proved vital to us and, in particular, he took the lead role in assisting the purchaser with Care Inspectorate registration, otherwise the sale would have been delayed."
The new purchasers Mr Arfan commented
"what attracted us to this business was the excellent reputation it had with the council, Care Inspectorate and the local community and we feel with our additional investment in the future, the nursery should only flourish in our control."
Gary Walton concluded
"this transaction confirms my thoughts that the nursery market remains buoyant for good quality businesses and it is encouraging to see that transactions such as this are still being supported by the mainstream lenders as well as private equity providers. However, it is just as important that vendors are able to provide the required information timeously so that the appropriate due diligence can be undertaken by the purchasers and their advisors. This was certainly the case with Anne and her advisors."