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Gerald Eve advises Macquarie on £20m education deal

Property consultancy, Gerald Eve, has advised Macquarie Asset Management on a leading commercial ground lease portfolio with ICP Education for £20 million.

ICP Education is a leading operator of high-quality nurseries, providing day care for almost 7,000 children across 51 locations in England and Wales. To support ICP’s continued growth, Macquarie Asset Management has helped ICP Education put in place new commercial ground leases for a portfolio of assets across England.

Gerald Eve was instructed to provide Macquarie Asset Management with property due diligence; its advice on the trading potential of the individual nurseries was crucial in setting the ground rents on the individual assets, which in turn determined the eventual acquisition price.

The nursery sector has been very active over the last year, with investors attracted to the sector’s very positive long-term demographics and social trends. We at Gerald Eve are delighted to have advised on this landmark deal, which is an excellent example of the strong investor appetite for very long dated income with index linked reviews, inflation proofed and underpinned by property values.

Morgan Allen, Partner

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Morgan Allen