A pre-school has become a limited company so it could buy new premises and avoid closure.
County education chiefs say Didcot's Ladybird Pre-school Ltd, whose prefabricated classrooms were paid for with the help of a bank loan, was a blueprint for others needing to raise capital funding.
The Mayor and Mayoress of Didcot, Dr David and Pip Giaretta, officially re-open the school
The new premises, opened by the mayor and mayoress of Didcot, Dr David Giaretta and his wife Pip, are in the grounds of the Manor Primary School where the playgroup previously shared a hut with St John Ambulance.
The building was condemned as unsafe by environmental health officials in 2001 and the pre-school had to vacate the hut and move to a temporary home at Didcot Conservative Club.
The pre-school borrowed £35,000 from the Charity Bank and received nearly £20,000 Lottery funding, £46,000 from South Oxfordshire District Council, nearly £20,000 from the New Opportunities Fund, and a grant from the town council.
Former Ladybird chairman Peter Harrison, now one of the new directors of the pre-school, said: "It has not been all plain sailing and at times it was thought the playgroup would have to close.
"Not only would the children have lost a well-run learning facility but a number of hard-working, enthusiastic ladies would also have lost jobs they enjoyed."
The pre-school caters for 70 children aged between two and five. It still needs to find a further £15,000 for landscaping, including outdoor safety surface and play equipment.
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