Allica Bank has provided a £450,000 commercial mortgage to enable Kinder City nursery & pre-school to purchase its existing premises in Luton and secure its future in the building for many years to come.
Kinder City is a family-run childcare facility, rated ‘Good’ by Ofsted, with 21 members of staff caring for children up to five years old. The facility features both indoor and outdoor play areas, a large sleeping room, spacious learning and playrooms, as well as cooked meals from its 5-star hygiene rated kitchen.
Since the inception of the business in 2015, Kinder City has leased a repurposed former church building located under a mile from Luton train station. In early 2023, the building’s landlord decided to sell the property, and Ovais Ahmed, owner of the nursery, saw an opportunity to secure the business’ future.
He said: “By owning our premises, we can have a much stronger incentive to develop it for the kids, parents and staff. For one, we’ll be looking at spending over £20,000 on our outdoor space. It’s fantastic, too, to be able to commit our future to this location and the many families and staff in the area.”
Ahmed contacted Allica, and within four days received an offer for a £450,000 commercial mortgage.
He added: “As a founder and director I feel I have a renewed energy for my business. With this new-found autonomy I can really be innovative and creative in enhancing and tailoring every aspect of this building.”
Wahid Nawaz, Allica Bank’s Luton-based relationship manager who covers North London, Hertfordshire and Bedfordshire, said: “Kinder City is a fantastic Luton business and community asset for many mums, dads and kids in the area. It’s clear what an important opportunity it was for them to take.
“I’m so pleased we’ve been able to support Ovais and Kinder City as they take that next step in their journey, and I’m looking forward to working with Ovais and seeing Kinder City go from strength to strength in the years ahead.”