Busy Bees Day Nursery Investment, Weldon Park Local Centre, Airfield Way, Weldon, Corby, NN17 3LT
POA
- SIZE AVAILABLE
5,100 sq ft
474 sq m
- SECTOR
High street retail property for sale
Key features
- Prime investment opportunity as part of wider local centre
- Let to Busy Bees Nurseries Ltd
- 5A2 D&B Rating and 83/100 Incans Rating
- Tangible Net Worth of £130,696,000 (2022)
- New 20 year FRI lease with no breaks
- Commencing Rent of £150,000 per annum
- Guide Price of £2,555,000, representing a 5.52% NIY
- Planning granted, with PC and handover scheduled for Q2 2025
- Forward commitment offers sought
Description
Description
The nursery plot is situated adjacent to the retail units with planning consent for a c 5,100 sq ft (474 sq m) single storey facility, with associated external play area and dedicated parking for 12 vehicles but can also use parking of the Local Centre which is shared.
The building proposed is of brick and block construction under a pitched tiled roof.
Location
Weldon Park Local Centre is part of a new Persimmon Homes housing development of c. 1,000 homes, to the south east of the village of Weldon.
Weldon Park is a 6 minute drive in to Corby and offers easy access to Kettering, Stamford and Northampton countryside via the A43.
It is an ideal location for work and leisure within a peaceful rural setting but within minutes be in the hub of a lively town with all the shopping and amenities this provides.
The housing development features a local centre including a 4,500 sq ft convenience store let to Sainsbury’s, together with an 1,800 sq ft café to be occupied by Esquires coffee and two ancillary retail units, each of 900 sq ft let to Rumbles Fish & Chips & Golden Scissors respectively. These units are due to be open and trading in the first half of 2025.
Phase 2 of the local centre, includes the delivery of a day care nursery representing an excellent investment opportunity for local SIPP purchaser, regional property company or a national fund investor.
Planning & Conservation
The property has planning permission for an E-Class Day Nursery. The plans for the property can be found at www.gov under application number 07/00430/OUT.
Tenure & Tenancy
Freehold. The site will be let to Busy Bees Nurseries Ltd (Co Reg - 03454787) on a brand new 20 year FRI lease with No Breaks. The rent passing will be £150,000p.a with five yearly rent reviews on an upwards only basis in accordance with CPI at a collar of 1% and a cap of 3%. 3 months rent free will be provided to the tenant which will be absorbed by the vendor.
Covenant
Busy Bees was founded in 1983 and is considered one of the nation's leading nursery groups, with 390 nurseries in the UK, Ireland, and right across the world.
We have carried out due diligence on the current financial capabilities of the tenant and can confirm that they are considered of an undoubted covenant strength able to meet their lease obligations. We detail below a summary from external analytical companies of their opinion on the company.
The INCANS® Tenant Global Score of 83/100 means this tenant sits in the 83rd percentile vs. all companies worldwide and is deemed at Medium-Low risk of default. This short term level of default risk is equivalent to a BBB- bond rating. This tenant has a 0.26% probability of failure over the next 12 months.
Guide Price
We are seeking £2,555,000 for the Vendor’s freehold interest, representing a 5.52% NIY.
VAT
VAT will be applicable at the prevailing rate. It is anticipated that the sale will be treated as a TOGC and therefore VAT will be waivered.
EPC
The EPC for the property will be assessed on completion of the development.
Viewing
Formal viewings can be made strictly by appointment with Savills or their joints agents WTS.
Anti Money Laundering Regulations
Regulations require Savills to conduct various checks on purchasers and tenants. Further details are available upon request.
The nursery plot is situated adjacent to the retail units with planning consent for a c 5,100 sq ft (474 sq m) single storey facility, with associated external play area and dedicated parking for 12 vehicles but can also use parking of the Local Centre which is shared.
The building proposed is of brick and block construction under a pitched tiled roof.
Location
Weldon Park Local Centre is part of a new Persimmon Homes housing development of c. 1,000 homes, to the south east of the village of Weldon.
Weldon Park is a 6 minute drive in to Corby and offers easy access to Kettering, Stamford and Northampton countryside via the A43.
It is an ideal location for work and leisure within a peaceful rural setting but within minutes be in the hub of a lively town with all the shopping and amenities this provides.
The housing development features a local centre including a 4,500 sq ft convenience store let to Sainsbury’s, together with an 1,800 sq ft café to be occupied by Esquires coffee and two ancillary retail units, each of 900 sq ft let to Rumbles Fish & Chips & Golden Scissors respectively. These units are due to be open and trading in the first half of 2025.
Phase 2 of the local centre, includes the delivery of a day care nursery representing an excellent investment opportunity for local SIPP purchaser, regional property company or a national fund investor.
Planning & Conservation
The property has planning permission for an E-Class Day Nursery. The plans for the property can be found at www.gov under application number 07/00430/OUT.
Tenure & Tenancy
Freehold. The site will be let to Busy Bees Nurseries Ltd (Co Reg - 03454787) on a brand new 20 year FRI lease with No Breaks. The rent passing will be £150,000p.a with five yearly rent reviews on an upwards only basis in accordance with CPI at a collar of 1% and a cap of 3%. 3 months rent free will be provided to the tenant which will be absorbed by the vendor.
Covenant
Busy Bees was founded in 1983 and is considered one of the nation's leading nursery groups, with 390 nurseries in the UK, Ireland, and right across the world.
We have carried out due diligence on the current financial capabilities of the tenant and can confirm that they are considered of an undoubted covenant strength able to meet their lease obligations. We detail below a summary from external analytical companies of their opinion on the company.
The INCANS® Tenant Global Score of 83/100 means this tenant sits in the 83rd percentile vs. all companies worldwide and is deemed at Medium-Low risk of default. This short term level of default risk is equivalent to a BBB- bond rating. This tenant has a 0.26% probability of failure over the next 12 months.
Guide Price
We are seeking £2,555,000 for the Vendor’s freehold interest, representing a 5.52% NIY.
VAT
VAT will be applicable at the prevailing rate. It is anticipated that the sale will be treated as a TOGC and therefore VAT will be waivered.
EPC
The EPC for the property will be assessed on completion of the development.
Viewing
Formal viewings can be made strictly by appointment with Savills or their joints agents WTS.
Anti Money Laundering Regulations
Regulations require Savills to conduct various checks on purchasers and tenants. Further details are available upon request.
Brochures
Busy Bees Day Nursery Investment, Weldon Park Local Centre, Airfield Way, Weldon, Corby, NN17 3LT
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Corby Station2.6 miles
About Savills, Southampton - Licensed Leisure
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