Eastbourne town centre nursery building lease put up for sale – it will remain open
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The lease is for the site of Leaps and Bounds in Ashford Road. The family-run nursery, which offers childcare to children aged between four months and five years, first opened in 2009. Leaps and Bounds clarified that the business is not for sale, it is just the lease of the site.
On the Zoopla listing it says the owner of the property is looking for offers starting from £290,000.
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Hide AdIf the 3,590 sq ft site is not sold by July 18 it will go to auction, according to the listing.
On the Zoopla listing it reads: “Investment let at £30,000 p.a. inc VAT (a personal rent concession has been granted to [the] current tenant at £26,000 p.a. inc VAT which falls away if the lease is assigned or underlet).
“Let [is] on a 15-year full repairing and insuring lease from 2014 with an open market rent review in 2024. [There is] future asset management potential to increase the rent (subject to negotiation with the tenant).”
There is also the potential and future possibility of converting the site into multiple dwellings (subject to the requisite consents and existing lease), according to the listing.
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Hide AdThe listing continues: “The current tenant is in historical arrears and is currently paying these off on a monthly basis in addition to the rent; the benefit of these will be assigned to purchaser.”
A spokesperson for Leaps and Bounds said the nursery is doing well and proving very popular with parents.
They added: “I am delighted to say that we have a waiting list of hopeful parents who want us to look after their children.
“We, as did many businesses, ran into financial problems during Covid and lockdown when we were only able to look after the children of key workers, such as nurses, ambulance drivers and other crucial sectors.
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Hide Ad“We are now back to full strength and are paying off all the historic debts. The landlord is looking to sell the building, but this has no impact on us. We will continue trading us usual.”