Ealing Hammersmith and West London College has sold a 250,000 sq ft campus to the Department for Education for more than £25m.
The Construction and STEM Centre campus in Gunnersbury Lane, Acton, W3, will provide homes and a secondary free school, but will continue to be used for another 18 months. The money will fund the college’s accommodation strategy.
Board papers from October 2015, the most recent available, show that college governing board members approved the marketing and sale of the Acton campus as part of its three-year financial forecast. It said a number of agents had valued the Acton campus at £27m.
Tom Scaife, Partner, at Knight Frank, which acted for the college, said: “This is a great example of maximising the potential of an educational asset – releasing funds to be reinvested back into education by the college on their wider estate, and delivering a new modern educational facility for the local community.”
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