Kinder City nursery

Kinder City has operated from its old church building premises since opening in 2015. A short walk from the train station, the site is full of character and space and has become a second home to the many staff and kids that have worked or played there over the years.

“Kinder City nursery is very important to the local community. All of our employees are local and the majority of our children come from this area. Having that space and trust gives new parents that safety and security they need when leaving their child in childcare,” Ovais explained.

In early-2023, the landlord that Ovais has been leasing the property from decided they wanted to sell it. For Ovais, this was the perfect opportunity not just to secure the future of Kinder City in that location, but to grow.

“It’s always difficult having the uncertainty of being a tenant. It was important that we owned the building to allow us to be innovative and invest in enhancing every aspect and environment of the nursery.”

Ovais reached out to Wahid Nawaz, his local relationship manager at Allica Bank who is also based in Luton. Wahid spoke to Ovais to understand more about how we could help, and then guided him through an application for a £450,000 mortgage to purchase the property.

“I’ve known Wahid for a long time, having met him at many business events. When I picked up the phone to him, I assumed he’d sign-post me to a bank that could help. I never thought that Allica Bank themselves could offer me a solution.”

With Allica Bank, everyone one of our current account customers gets a dedicated relationship manager like Wahid that can work hand-in-hand with them on their commercial mortgage application.

Wahid was excited to support such a business with such strong ties to the local area: “Kinder City is a fantastic Luton business and community asset for many mums, dads and kids in the area. When I was approached by Ovais to help them buy their existing premises, I could see what an important opportunity it was for them.”

Allica’s team of underwriters reviewed the application and were impressed with the strength of the business’s performance and leadership team. Like many childcare services, Kinder City had seen a drop in registrations during the pandemic period as more parents were working from home. However, it quickly bounced back and is enjoying healthy registration numbers as fewer parents work remotely.

Allica Bank’s credit underwriter, Stuart Furlong, explained that “when looking at the credit assessment for Kinder City, its excellent Ofsted reports and track record gave me real comfort in its strength and potential.

“Ovais has invested smartly into the business and its premises, and by working closely with his relationship manager, Wahid, we were more than happy to make him an offer. This business is a great part of the community and we’re pleased to help secure its longevity.”

Four days after Ovais had submitted his application, Allica Bank was able to make an offer.

“Having a dedicated relationship manager made it so much easier. I could pick the phone up at any time and ask Wahid a question. Normally purchasing a building you’re going to go through a lot of anxiety about what’s going on, what’s the valuation going to be like. Wahid always assured me that no matter what problem came there would be a solution he could find me.”