July 5, 2017
GCW’s Alternative Sectors team has advised Stax Nurseries Ltd on the sale of a nursery in Farnham, Surrey to Alpha Real Capital for £2.11m, reflecting a net initial yield of 5.02%. The investment provides a rent of£112,500 pa on a 25-year lease, with a tenant break at year 15.
The 6,100 sq ft building is located on Wilkinson Way between David Lloyd Farnham and Farnham Rugby Club. The investment asset is new and purpose built for tenant Bright Horizons Family Solutions, which opened its Farnham Day Nursery and Pre-school this month.
The sale marks the first ‘alternatives’ investment deal since GCW’s Alternative Sectors team was set up. The retail property specialist launched the new division to meet the requirements of specialist operators such as gyms, nurseries and care homes which now vie for retail sites throughout the UK. The team also acts for nursery operator Busy Bees which is actively looking for new potential sites.
GCW acted for Stax while Alpha Real Capital was advised by CBRE.