Wed, 29 Mar 2017 | COMMERCIAL PROPERTY
A spiritual training centre in Canterbury which is to close after 46 years is up for sale for £3.5 million.
The Franciscan International Study Centre (FISC), built in the 1970s, is to move out of its Giles Lane site in June, Kent News reports.
The centre’s board of trustees said it had been “struggling to survive for a number of years” and currently had no students enrolled on some of its courses.
BTF Partnership, the agents appointed to sell the site, said the FISC represents a “fantastic opportunity” for a buyer. It could be turned into student accommodation.
The three-acre site, close to the University of Kent, has a central 15,000 sq ft building with a library, offices, meeting rooms, common room, refectory and kitchen. There are five residential blocks comprising 43 bedrooms, each block having a communal sitting room and kitchen.
The centre had run an ecumenical training programme designed to help students develop skills and experience in spiritual direction.
In a statement regarding the future of the FISC, principal Fr Thomas Reist said the centre had experienced a number of problems, including reduced teaching and support staff, problems securing visas for students and poor student enrolment numbers.
“During the summer and autumn several proposals were made by supporters of FISC to restructure the centre,” the board said.
“The trustees expressed their gratitude for these initiatives. In the end, the trustees judged that the adverse conditions of the past five years have put the FISC in an unrecoverable state.”
William Hinckley, director at BTF Partnership, said: “This is a fantastic opportunity for either an occupier seeking a residential study centre or for those involved in the student rental market.
“It offers good quality accommodation ready for occupation with scope for further extension or development.
“With less than 23 per cent of the city’s students housed in university accommodation, Canterbury is considered a top investment opportunity student accommodation and this occupies an ideal location next to the university.”
Find commercial property for sale.
This company specialises in supplying the highest quality natural stone products, offering a complete turnkey solution to its customers from sourcing, through to processing, design and final distribution and delivery. Offers invited.
RELOCATABLE
Precision Engineering Business for sale operating with a modern, well equipped machine shop, offering Engineering Development Modelling (EDM), CNC turning & milling, grinding, boring and fitting. Offers invited.
LEASEHOLD
High quality practice with strong middle management on the market for the first time. Established: 25 to 30 years. Strong middle-tier management to support acquirer throughout the transition period and on an ongoing basis. Locations: Cheshire, Mersey...
|
20
|
|
Sep
|
Thomas Cook seeking 'last-ditch' fire sale | BUSINESS SALE
Thomas Cook Group is reportedly trying to piece together a l...
|
19
|
|
Sep
|
Smith & Williamson and Tilney to merge | MERGER
After revealing in August this year that talks were in place...
|
18
|
|
Sep
|
Infrastructure investment manager takes stake in LJLA | BUSINESS SALE
Infrastructure investment management group, Ancala Partners,...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources