Having commenced trading the nursery in 1991 from a nearby leasehold nursery, Paul and Renu Kapila purchased the Almners Priory Complex in 2002 and following extensive refurbishment the business opened in as a nursery in July/August 2002.
Having celebrated the 20th anniversary, Paul and Renu Kapila felt that now was a sensible time to retire from the nursery sector and hand the business over to a new owner. They approached Christie + Co, asking for a single like minded potential purchaser to be sourced.
With intimate experience and knowledge of the nursery sector, and most importantly knowledge of buyers with the desire and financial capabilities to undertake a deal of this size, Christie + Co prepared and discussed a shortlist of five potential purchasers with Paul and Renu following which Paul and Renu asked us to facilitate negotiations with Mark and Alison Watson.
Courteney Donaldson, Director of Childcare at Christie + Co, says: “We were aware that Mark and Alison Watson, who a few years ago sold a very successful large nursery in Surrey, were keen to re enter the sector. They had discussed their acquisition requirements and were looking for a unique and highly respected nursery and we were aware that they had access to the level of funds required to facilitate this transaction.
“A discreet meeting was arranged, and Mark and Alison, who were immediately impressed with the business. A deal was swiftly agreed, and following confidential and discreet t process both parties are delighted to have concluded this deal.”
Rainbow Nursery subdivides essentially into three main parts — the original Priory building with extensions, the former barn and clock tower with infill development, and, finally, the ancillary buildings and land at the site.
The Priory building comprises an original element, part of which dates back to medieval times, which has a substantial single storey extension to the east providing the dining room and kitchen area. The original element has accommodation over lower ground, ground, first and second floors, and this has also been extended to the rear at ground and first floor levels. On the western side is a substantial two storey extension. All of the original building is utilised for the care of children in the 2 – 5 years category, whilst also providing ancillary accommodation.
The Clock Tower building comprises a two-storey barn, two-storey infill development and the original clock tower, which provides accommodation over two floors. This part of the nursery caters for children from six weeks to two years of age.
The nursery is accessed via a grand sweeping driveway and substantial garden lie to the side and rear, which in turn provide access to the rear paddocks. These paddocks provide an extensive petting farm and horticultural area, the latter of which is used by the staff and children for growing vegetables for use in the nursery kitchen.
Courteney Donaldsonand Charles Phillips of Christie + Co’s childcare team, who both handled the sale, jointly say: “In our opinion, as leading property specialists in the day nursery sector, Rainbow Nursery trades from the highest quality and most extensive facilities that we have had the privilege of visiting.
“We are delighted to achieve a confidential sale for Mr & Mrs Kapila and we are confident that Mr & Mrs Watson will continue the good work at the business.”