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.
Take a look at our buying a business page for more information on buying and selling businesses.
A rare opportunity to acquire a long established, profitable, BMW After Market Specialist, with an excellent reputation. Trading profitably since 1994. Offering complete automotive performance, engineering and styling solutions. This is a retirement...
Provides an extensive range of coffee machinery, which is imported from Italy and Spain, and coffee products, which are sourced within the UK. Offers invited.
One of the UK's leading end-to-end service providers. Comprehensive export handling, packing and storage services, providing specialist cargo and goods management to a wide variety of international operations and private clients. 40+ years of success...
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