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17 October 2016 | Childcare Mortgages

Christie Finance secures funding to assist expanding childcare company

Christie Finance, the specialist commercial mortgage broker, has successfully arranged a £1.5m funding package with Santander for its client Riverside Childcare Ltd, assisting them in their acquisition of Riverside Nursery in Kirkintilloch, East Dunbartonshire.

The Nursery is registered for 130 children from six weeks old to primary school age. With our clients, already managing the successful Barrachnie Nursery in the East End of Glasgow, this acquisition increases the capacity of the expanding company to 226 places.

Barrachnie and Riverside Nurseries have excellent reputations with the Care Inspectorate and both are currently graded either ‘Very Good’ or ‘Excellent’.

Mohammed & Sajida Arfan, Directors of Riverside Childcare Ltd, had been looking to purchase a second nursery for some time now, with Sajida commenting that Riverside offers an ‘excellent opportunity’ going forward.

Craig Dickson, Director at Christie Finance, commented: “We were delighted to assist in securing the funding for the buyers who are longstanding clients of Christie Finance. Santander have put together an excellent funding package meeting the needs of our client and allowing them to expand their business interests”

“We continue to see demand for geographical well placed nurseries from both national corporates and existing regional operators looking to expand in the Scottish market – with many childcare businesses delivering bottom line profitability ahead of many other sectors”.