Luton nursery secures its future after getting mortgage to buy its home
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A Luton nursery and pre-school is planning for its future after getting a mortgage to buy its home.
Kinder City nursery & pre-school, secured the commercial mortgage from Allica Bank to purchase its existing premises – a former church building on Hitchin Road that it has leased since it opened its doors in 2015.
The family-run childcare facility, rated ‘Good’ by Ofsted, features both indoor and outdoor play areas, a large sleeping room, spacious learning and playrooms, as well as cooked meals from its 5-star hygiene rated kitchen and serves as a crucial asset for many families in the area.
By purchasing the property the nursery and pre-school has secured its long-term future, and says it has ambitions plans for further investment and development of the facility.
“By owning our premises, we can have a much stronger incentive to develop it for the kids, parents and staff,“ says Ovais Ahmed, owner of Kinder City. “For one, we’ll be looking at spending over £20,000 on our outdoor space. It’s fantastic, too, to be able to commit our future to this location and the many families and staff in the area.”
Ovais contacted Allica, and within four days received an offer for a £450,000 commercial mortgage.
He added: “Having a dedicated relationship manager at Allica Bank made it so much easier than I expected. Normally purchasing a building you’re going to go through a lot of anxiety about what’s going on.”