Shortland Penn + Moore has advised a private investment company, which has agreed to fund the development of a new children’s day nursery in Kings Reach in Biggleswade.
Able Comm is funding Birmingham based developer, Coltham, in the creation of a 5,145 sq ft Busy Bees day nursery in the expanding residential area.
The investor will be paying in excess of £2,000,000 for the completed development. Busy Bees will take a new 20-year lease on practical completion, which is due in January 2018.
David Allen, of Shortland Penn + Moore - who acted for Able Comm, said: “This is strong, growing market for investment.
“We are very pleased to have advised Able Comm in this deal following their purchase of a completed Busy Bees in Milton Keynes last year and we see this as an expanding area of opportunity for investment.”
Stuart Franks, of Coltham, said: “We are delighted to be working with Able Comm on another of our new Busy Bees children’s day nursery facilities, which follows swiftly after completion of our Warwick scheme.
“Biggleswade will be the first of a number of developments utilising the latest Busy Bees layout/specification that we have been working on with them for more than two years.”
Franck-Steier Price Ltd acted for Coltham.