SOLD POPULAR CHILDREN'S DAY NURSERY IN ROYSTON HERTFORDSHIRE

Amberglobe we delighted to be instructed to sell this established profitable day nursery which located on a light industrial estate on the edge of Royston. We were approached by the owner who lived in London and it was other members of his family who running the nursery on a day to day basis, due to impending retirement of one of the family members the nursery needed to be sold. With a realistic asking price and a targeted marketing campaign, amberglobe were able to find an existing operator who was keen to acquire this setting in a short space of time. The nursery was sold for the full asking price of £65,000.

AMBERGLOBE SELL LD CARE HOME IN HUDDERSFIELD

Amberglobe have recently completed the sale of an established learning difficulties care facility which was located in Huddersfield. With an impressive annual turnover of £400,000+ this opportunity was owned and managed by the sellers. This proposition was initially being offered for sale by another agent on a freehold basis with no success. After discussing the best route forward Amberglobe advised on a leasehold sale where the owners were able to retain the extensive freehold property and as well as receiving a lump sum for the goodwill fixtures and fittings they also have agreed a long term lease with an annual rent of £70,000. Which is an ideal way to achieve an impressive income but retain the interest in the freehold property.

AMBERGLOBE SELL WILLOW COTTAGE CARE HOME IN BRISTOL ASKING PRICE 1.6M

Amberglobe have recently agreed the sale of this this impressive, thriving combination of Nursing and Residential care. Currently registered for 34 beds with an annual fee income in the region of £950,000 this management run home also had the potential for expansion. This home received an exceptable offer just weeks after coming to the open market. This was a highly confidential sale due to the fact that the sellers also have other homes. This home was sold off an asking price of 1.6m.

AMBERGLOBE SELL HIGH PROFILE NURSERY IN NEWCASTLE

Amberglobe are delighted to announce the recent sale of this fantastic high profile Children's Day Nursery which has an ideal trading position, a healthy fee income of £387,000+ a strong management team in place and an excellent reputation for care. Part of a small group and equipped to the highest standard, new owners needed to not spend a penny!. Amberglobe advised the owners to offer this setting on a new lease for an asking price of £89,000 after 5 immediate viewings a deal was agreed. After being on the market for almost a year via another broker this speedy sale was greatly appreciated by the now former owner.

Looking forward to 2014

2013 has been a  very interesting time for the business sales sector for lots of reasons. Whilst we were still in thick of a tough period for funding and sales, in general the market has continued to hold up well and sales have continued to happen especially in the Care Sector.

The main difference in the market from previous years is that all sales need more attention and TLC from start to finish. This may seem obvious as deals can always fall over but in the past it would have needed to be something quite drastic for this to happen whereas in the current climate some of the smallest issues that have arisen in the sales process have seen deals potentially fail.

This is where Amberglobe has gone that extra mile for its customers buyers and sellers: when we secure an acceptable offer we then introduce an experienced finance broker to the buyer who if required is able to access some of the most competitive deals in the finance market. As we all know dealing with the banks and funders direct is almost impossible so this help is crucial.

With funding agreed the next hurdle to get over is instructing the right solicitor to complete the transaction. Time and time again we see buyers fall into the trap of using solicitors that may be keen for the business but are just not used to dealing with business and company sales. We have drawn together a group of solicitors across the country who are able to offer both buyers and sellers a professional and competitive service backed up by years of experience  in business sales. Time and time again the feedback we get from clients is glowing.

As we progress into 2014 there is little doubt that buyers’ appetite for quality business opportunities is continuing to grow and we anticipate that the trend for multiple offers on high quality businesses will also continue. However this must also be balanced with the fact that the majority of sales need to be ratified by a buyer’s lender and they do still have strict lending criteria where valuations need to stack up on comparable evidence of similar sales.

The market remains pretty much the same as it has done for the last six months and probably will do for the next two years:.....a steady stream of buyers, and a solid level of sales provided that asking prices and vendor expectations are sensible.

The Leisure and Retail sectors remain extremely challenging and with the seismic shifts happening in those sectors I doubt that things will ever be the same.

As for Day Nursery sector there was an alarming suggestion in the papers recently by OFSTED that the free childcare subsidy should become means-tested. I think that such an idea would be hugely damaging to the childcare industry and should be resisted at all costs. These people in the civil service seem to exist in a parallel universe and simply don’t seem to understand the financial constraints under which the vast majority of parents are already labouring when it comes to paying for their childcare!

On the good news front we are seeing increasing levels of borrowing as the major banks slowly emerge from rebuilding their balance sheets and some but not all, are starting to lend more freely. We are also much busier with viewings and offers at this traditionally quiet time of year than in previous years which hopefully bodes well for the new year.

Deals however remain tough to do and are often taking many weeks to complete. You as vendors and we as agents have to have the patience of a saint to put up with the seemingly endless and annoying demands of purchasers and their lenders!

I read with interest Vince Cable's suggestion last week that the government should establish a "People's Bank" to fund business and kick start the economy. Hang on Vince I thought we already owned two banks with well-known brands, large capital asset bases, hundreds of branches and thousands of employees - they're called RBS and Lloyds. Rather than being in thrall to bankers, perhaps the government should instead start exercising its powers as a shareholder and get those two banks to start lending more to business!