Little Pioneers Nursery, Plot A Rosebird Centre, Shipston Road, Stratford upon Avon, CV37 7LR
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Atlas Real Estate has recently exchanged contracts with Pickering Developments Pension Scheme on the forward funding of a new children’s nursery development on behalf of Hinton Group.
Construction on the development has commenced with practical completion expected in Q2 2025.
The property is located on the edge of Stratford upon Avon, on an established mixed use development adjacent to a Waitrose supermarket and Costa Drive Thru.
The property will comprise a new build children’s day nursery extending to 5,920 sq.ft with secure external play area and 27 car parking spaces. The property is pre-let to Kenmare Estates Ltd (trading as Little Pioneers), guaranteed by Mid Counties Co-operative Ltd, for 20 years with five yearly reviews to compounded CPI collared at 1% and capped at 3.5% per annum. The commencing rent is £133,000 per annum.
The development funding sold for £2,217,000 which reflected a net initial yield of 5.85%.
Block Real Estate represented the purchaser.