Fri, 28 Oct 2016 | COMMERCIAL PROPERTY
A Margate site that was formerly home to the oldest deaf school in the UK has been placed on the market in one of the biggest land deals in the seaside town for years.
The Royal School for Deaf Children, which dates back to 1876, closed about a year ago after the trust which ran the school went into administration.
The 14.7 acre site, close to Margate’s Victoria Road and Park Crescent Road, houses around 120,000 square foot of school buildings, ten residential properties that once accommodated students, a recently constructed hydrotherapy pool and gym, sports fields, a sensory garden and playgrounds.
Property consultancy Eddisons, which is managing the sale on behalf of the school’s trustees, said the land and buildings should generate “high levels of interest” among property investors and developers. Recent land sales in Margate, described as a “rapidly gentrifying coastal resort”, have gone for upwards of £700,000 per acre, the firm said.
Eddisons director James Liddiment said: “We are marketing the site on either a conditional basis, where we will work with a buyer to bring forward their vision for the site, or on a more straightforward unconditional basis.
“While there are a number of potential options and uses for the land, all of which will be explored, including an ongoing educational use, we suspect the strongest demand will emanate from residential developers, especially given the shortage of housing stock generally.”
The Royal School for Deaf Children site is available for sale as one site or could be potentially split into separate lots, Eddisons said.
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