Fairlie Norbury Real Estate advises on acquisition of Warwick Day Nursery Facility

FNRE advised a Family Trust on the acquisition of day nursery facility at Lower Heathcote, Warwick. The property comprises a shortly to be developed 5,700 sqft day nursery facility let to Mid Counties Co-Operative t/a Little Pioneers for 20 years. The rent of £120,000 pa reflects £21 psf and is subject to 5% fixed annual reviews at years 5 and 10 with an open market review at year 15. The price paid for this forward commitment was £2,040,000 reflecting a net initial yield of 5.53%.