30 June 2016
Telereal Trillium is pleased to announce that it has completed two further transactions with the Education Funding Agency (EFA):
- a freehold sale of a former BT depot on the outskirts of Ipswich and;
- a new 30 year lease for an extended existing school in the village of Wye, Kent.
As part of the Department for Education’s free school programme, which supports the creation of new places for pupils and learners, this will conclude the third transaction that has been agreed between Telereal Trillium and the EFA.
The former BT depot site in Ipswich is located towards the north-east of the town centre and spans 2.4 acres on Woodbridge Road. It has the benefit of a residential consent for 39 dwellings. The site was sold to the EFA in May 2016 who will be submitting planning shortly for a new Free School on site.
In Kent, a new 30-year lease has been agreed for the Wye Free School located on the former Imperial College Campus site acquired by Telereal Trillium in autumn 2015. The EFA will finance a design and build scheme for the Kempe Centre extension. This agreement forms a key element in the ongoing master planning of the site and establishes a lasting community function in the heart of Wye.
Mark Kelly, Disposals and Development Director at Telereal Trillium said: “Telereal Trillium’s diverse portfolio of sites comprises many former government and commercial use buildings, lending them to the specific requirements and locations that could be suitable for educational purposes. We are delighted to have completed an additional two transactions with the EFA and look forward to discussing further opportunities aligned with their on-going requirements for new sites.”
Telereal Trillium and the EFA are currently in the process of exploring further opportunities for new free schools throughout the UK.