Colchester nursery setting sold to ICP Nurseries

Specialist business property adviser, Christie & Co, has announced the sale of Butterfly Blue Day Nursery in Colchester, Essex

Butterfly Blue Day Nursery is an Ofsted rated ‘Good’ setting, which accommodates up to 120 children aged from babies to five-years. It occupies a beautiful 1890 building, formerly the Garrison Theatre, which has been lovingly converted to accommodate the nursery.

The setting was previously owned by Deena Leek, who chose to sell to focus on her remaining nursery, which is closer to where she lives in Hertfordshire.

Following a confidential sales process, Butterfly Blue Day Nursery has been sold to ICP Nurseries, taking the group’s portfolio to 58 settings across the UK.

Dena Leek commented: “Butterfly Blue is situated in a really fantastic building.  I wish the new owners the very best of luck as it really is a wonderful nursery.”

Chairman of ICP Nurseries, Stephen Booty, added: “We are delighted to have acquired Butterfly Blue, a lovely spacious setting in Colchester that will be a great addition to our group.”

Sophie Willcox, director, Childcare & Education at Christie & Co, who handled the sale, stated: “We were inundated with interest in Butterfly Blue and were delighted to receive offers within a matter of weeks of going live. I have seen a flurry of freehold nurseries complete in the last few weeks across the South which bucks the trend of more leasehold sales over the last few years. However, I think we will see a more balanced market of leasehold and freehold sales again as several new opportunities I have brought to market in the last few weeks have been leasehold and we have received a fantastic level of interest with multiples in excess of where they were pre-Covid-19.”

Butterfly Blue Day Nursery was sold for an undisclosed price.

Date Published: April 26, 2022