An historic independent school site in Warwick has been sold for residential development in a multi-million pound transaction.
The 2.4 acre site of King’s High School has been sold by the Warwick Independent Schools Foundation to Wake Green (Warwick) Limited.
The site has been home to the school since 1879 and will be vacated once the school’s new site on Myton Road is ready for occupation in September 2019.
Midlands law firm Wright Hassall’s helped the Foundation access a £20 million development finance package from HSBC to create a new campus for King’s High School on the Foundation’s Myton Road site.
The firm subsequently acted for the Foundation on the sale of the historic King’s High School site.
The ongoing development work on the Myton Road site, where Warwick School, Warwick Junior School and Warwick Preparatory School are already based, will bring together all schools within the Foundation on a single campus, including a new shared sixth form centre.
It will also see improvements made to the Bridge Sports Centre, as well as provision of a new state of the art 3G rugby pitch, which is already in use.
Simon Jones, Foundation Secretary of the Warwick Independent Schools Foundation, said: “We are delighted to have completed the sale of the King’s High School site and would like to thank all of those involved for making this happen.
“Our work to create a new campus is a real milestone in our history.”
Alison Pearce, an education real estate specialist at Wright Hassall, said: “As a firm, we enjoy a very strong relationship with the Warwick Independent Schools Foundation and we have been delighted to work with them every step of the way during this historic transition.”
Richard Hardy of Chartered Surveyors, Bromwich Hardy, acted for the Foundation, he said: “The School site is one of the largest development sites ever to be sold in Warwick and, because of the wide range in ages of the buildings, dating from the 16th to the 21st century, presented something of a marketing challenge.
“However, the end result exceeded all expectations and we are very pleased to have been involved in assisting the Foundation to achieve their target of selling the school site prior to the move to Myton Road.”
Legal firm Gateley Plc acted for Wake Green (Warwick) Limited.