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Treetops offloads sites in sale-and-leaseback deal
By Catherine Gaunt,
Nursery World,
26 November 2007
One of the largest nursery groups in England has sold the freehold of its 18 nurseries in a multi-million-pound sale-and-leaseback deal.
Treetops, which is based in Derby, offers 1,300 childcare places and has 350 employees at sites throughout England. It has rented back the nursery buildings from Jersey-based unit trust the PINE Fund, which has bought the settings. The fund works by buying freeholds and leaseholds of nurseries with a minimum of 45 registered places and renting them back to the childcare provider on 15- to 35-year-leases. The fund now owns 38 freehold nurseries, including nine Busy Bees sites, five...
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