Nursery portfolio acquisition complete after advice from Kirkby Diamond
March 21, 2023
Kirkby Diamond’s building consultancy team has provided advice to Grandir UK Ltd on its acquisition of the Three Little Birds portfolio of 10 nursery properties in and around London.
Kirkby Diamond were instructed to advise on the existing condition of the buildings and potential on-going maintenance concerns, with further advice on their potential dilapidation liability.
Grandir UK acquired a total of 10 properties at Anerley, Chingford, Clerkenwell Mount, Crystal Palace, Penge East, Harpenden, Muswell Hill, Wandsworth, West Finchley and Winchmore Hill, all under the portfolio of Three Little Birds.
Kirkby Diamond building consultancy partner Paul Hazell said: “Our advice was integral to Grandir UK’s negotiations with the vendor and in understanding their potential dilapidation expense at lease expiry.
“Our team of surveyors, with the assistance of Grandir’s property team, arranged and inspected all the properties during normal nursery hours, made possible due to our surveyors being DBS checked resulting from the extent of work we do in this sector. This provided comfort to the nurseries, enabling our team to inspect the properties in a very narrow timeframe, without needing to be shadowed and causing minimal disruption to the operator.”
The properties inspected ranged from modern mixed-use developments to detached, turn of the century buildings, which allowed Kirkby Diamond’s experienced surveyors to deploy a wide range of diagnostic skills. The company also provided budget repair costs, allowing Grandir to forecast its potential maintenance spend from the outset.
Steve Hickson, of Grandir, said: “Successfully completing these acquisitions has enabled us to expand our portfolio into new locations. We are very grateful for Kirkby Diamond’s continued advice and the team’s understanding of the sector and environment. That level of expertise provided us with peace of mind as we completed the acquisition process.”
Paul Hazell added: “We are very pleased to have advised Grandir on this acquisition and our team was acutely aware of not only the sensitivity of the acquisition, but also the environment within which they were surveying. Our widening experience in this sector has enabled us to really understand the challenges faced by the mergers and acquisition teams and to tailor our offering to suit.”
Kirkby Diamond continues to advise Grandir through multiple service lines and as part of its expansion programme.