The niche property bank Cambridge & Counties has refinanced an Oxfordshire nursery which is adding 50 per cent more places for local children.
Scamps of Benson is increasing its places from 50 to 75. The additional capacity will be welcomed by the long waiting list of local families in a Thames-side village with significant new housing being built.
Scamps began life in 2001, leasing the village hall and in 2003 purchasing its own premises at Lowfield House. The business was established by Susan Johnson, a former fund manager who had previously, with other parents, set up a nursery in Henley. Susan then studied for childminding qualifications and launched Scamps.
Cambridge & Counties Bank has provided long term finance to repay two bridging loans.
“The business had been through tricky times through no fault of its own and this feels like a new beginning – a rainbow at the end of a storm.”
“It has been amazing to work with a bank that actually listens to our needs rather than talks only about its criteria. I’ve had more support and interaction with the people at Cambridge & Counties over 3 months than the business has previously had in 14 years with our main bank.”
“It makes you feel that the Bank cares. That personal touch goes a thousand miles. I love what I do but business owners like me work 12 hours a day, so it’s amazing to have such a speedy service that is also polite and courteous. I can now see the next 25 years as secure and I can focus on improving the business and moving it forward.”
South Oxfordshire Council has given its blessing to the expansion at Scamps. The nursery has an Ofsted rating of ‘Good’. It offers care between the ages of three months and 14 years, plus holiday clubs and other flexible services.
Wendy Burton-Webster, business development manager at Cambridge & Counties Bank, said:
“Scamps is a professionally-run, well established nursery with an excellent reputation. Sue is an incredibly committed and enthusiastic leader and we are very pleased to be supporting her as she leads Scamps into its exciting future.”
The solicitors were the Commercial Team at Slade Legal, acting for Scamps, and Mark Lewis of Brown Jacobson for the Bank. The valuer was Stuart Sayer of Christies.