Top School warms to leasing with System Rentals
Updated: Nov 9, 2021
In May 2021 we were approached by a top independent school in the North West of England. Nothing unusual so far as we have helped hundreds of schools since 1987. The Assistant Bursar contacted us initially via our partnership with one of the country’s leading school equipment manufacturers. So far so good…
“Can we include a heating system in the lease?” asked the Bursar the next day, adding “I have always been a strong advocate of leasing”. Well clearly the Bursar knew how to get on our good side and despite having some reservations (which we kept to ourselves of course!) we did some head-scratching to come up with a solution.
Historically, assets such as heating systems were considered unsuitable for a lease, hence our initial reservations. However, as we have such a large portfolio of Funders at our disposal not only were we able to secure a facility on competitive terms but we did so very quickly and also incorporated other assets that the school had recently purchased. We bundled everything together into a tidy “Sale & HP back” agreement which the Bursar was delighted with. The school was able to release all of the cash tied up in those recent purchases and we were left with, dare we say it, a nice warm feeling?!