Little Nursery Group opens new nursery following funding support from Santander UK
Little Nursery Group has opened its fourth nursery, Little Tigers Day Nursery and Preschool, in Park Royal, marking its expansion into London.
Santander UK provided it with £750,000 funding to acquire the property, fit it out and launch it as a nursery. This funding follows £2.8m support Santander UK provided Little Nursery Group last year for refinancing.
Little Nursery Group recently opened Little Tigers Day Nursery and Preschool – its first new-build nursery – after winning a tender run by property developer Fairview New Homes to open a nursery in the new Regency Heights residential development in Park Royal, North London. The new nursery is a 90-place setting with a large garden play area designed to cater to the children of people who live and work nearby.
The business is working toward building a portfolio of up to 15 nurseries over the next five years in the South of England and London. It is targeting a 300% increase in its current annual turnover of £3.75m over that timeframe, in line with projected growth. It also plans to grow its current staff of 130 to about 300 over the next several years in line with targeted growth.
Santander UK is additionally providing the business with a cash management tool that enables it to pool the balances of its nurseries, and has provided guidance on the company’s business strategy.
The business has recently rebranded to Little Nursery Group – it was formerly Cranbrook Day Nurseries Limited. It was established in 2015 with a vision to create a portfolio of premium nurseries and pre-schools in Sussex and neighbouring counties. The addition of Little Tigers expands it into London, and it has three other nurseries in Horsham, Haywards Heath and Steyning, which are in the process of being renamed.
Chris Holmes, CEO, Little Nursery Group said: “Since switching our banking to Santander UK last year, the team has been genuinely interested in providing us with the resources to grow and has been supportive and informative as we have developed our business strategy. Our improved repayment profile gives us the opportunity to grow in line with our ambitious plans with Santander UK’s support.”
Olivia Moorby, relationship director at Santander UK, said: “We are delighted to support Little Nursery Group’s expansion by providing funding toward the opening of its new Little Tigers nursery in London, and with a bespoke package of working capital solutions to maximise its liquidity. The business offers an excellent standard of care for children and has an exciting future ahead. We look forward to providing it with dedicated sector specialist support in the years to come, helping it to grow.”