Thu, 25 Nov 2021 | COMMERCIAL PROPERTY
York-based nursery business Little Green Rascals has announced the acquisition of a 6,000 sq ft York townhouse. The building, located on Tadcaster Road, is already Little Green Rascal’s largest setting, having previously been leased to the firm.
The company acquired the property via a funding facility from Barclays, put together by the bank’s relationship director Paul Craske. Legal advice on the acquisition was provided by Samuel Peake, Commercial Property Associate at Andrew Jackson Solicitors.
Founded in 2009 by Vanessa and Ben Warn, Little Green Rascals has grown to have a network of seven nurseries across the York area, with approximately 200 staff catering for over 1,000 families. The company says that the acquisition is in line with its strategy of acquiring freeholds as it looks to secure continued growth.
The deal comes during a time of intense M&A activity in the UK’s childcare and nurseries sectors. Amid strong demand for childcare services and with the sector remaining highly fragmented, childcare operators are moving to acquire more sites in order to grow and consolidate their position, many acting with the backing of banks, private equity or property investors.
Commenting on the deal, Little Green Rascals co-founder Vanessa Warn said: "This purchase cements our commitment to providing outstanding childcare in York, whilst ensuring our sustainability and provision for families in the area for the future. It also fits well with our growth strategy to own freeholds as we continue to grow the business."
Barclays’ Paul Craske said that he had been impressed by the company’s “growth plans, professionalism and knowledge of the sector together with their vision for the future of childcare” and described the acquisition as “another important step in their growth strategy."
Samuel Peake added: “The acquisition of the Tadcaster Road premises reflects [Little Green Rascals’] commitment to invest in the business and will help them to drive forward their vision for Little Green Rascals as a leading childcare provider with an ethical conscience."
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