Sunnybank Childrens Nursery in the centre of Chepstow, has been sold to another nursery operator in the town.

The 89-place day nursery has been sold to Riverside Nursery Group, which operates nurseries in Chepstow and Tutshill.

The proprietor of Riverside, Rachel Luntz, currently operates a large 73-place nursery at Powder House Farm in Tutshill, which was opened in 1995, and a second operation in Lower Church Street, Chepstow, which was opened in 1989.

Corrina Jones, care business agent at Christie & Co, which carried out the sale, said: “Due to our local knowledge, we were able to introduce Riverside Day Nursery Group to our clients on a very confidential basis enabling us to facilitate an offer without taking the property to the open market."

Gary Boyce, from Christie Finance, who arranged funding on behalf of the buyers, said: “We were delighted to secure highly competitive funding terms for our clients, enabling them to add a further quality day nursery setting to their existing portfolio. Rachel’s strong reputation in the local market will help take the business forward and with the support of a bank keen to help with their growth aspirations, the future looks very exciting.”

Mrs Luntz said: "We are delighted to have acquired Sunnybank Day Nursery. Riverside Nursery School's current premises in Chepstow town centre were becoming too small to cope with the demand for childcare places and therefore this has provided us with the perfect opportunity to expand while still continuing to be able to provide our high quality childcare to our existing customers.

"We have an excellent reputation within the locality and are excited to be able to extend our offering to more families in the area."

In the last 12 months alone Christie & Co has sold and valued in excess of 150 children’s day nursery businesses nationally with further sales in the pipeline, reiterating that Christie & Co are the go-to agent in this highly specialist sector.