The Pine Unit Trust, backed by Electra Partners and managed by Harry Hyman’s Nexus Group, has acquired the Priory Lyndhurst long-let special educational needs school in Hampshire.
The Pine fund specialises in educational purchases, from nursery schools to university teaching facilities.
Pine acquired Priory Lyndhurst for approximately £19m.
Nexus Pine managing director David Bateman said: “The recent trading performance and revenue growth potential of these two schools in conjunction with the annually indexed RPI rent increases makes this an excellent addition to the existing portfolio. This asset is in line with our business plan to substantially grow the Fund with educational facilities let to excellent operators on long leases. The fund has other assets under offer and a growing pipeline of acquisition opportunities.”
