The SMB Group has sold its Spinney Campus to homebuilder Bloor Homes.
Contracts for the sale were exchanged last week and this signifies a major step forward in the future development of the site, which achieved outline planning permission for 70 houses earlier this year.
Chief Executive and Principal for the SMB Group, Dawn Whitemore, hailed this as a significant boost for the College, which was formed by the merger of Brooksby Melton and Stephenson Colleges just under a year ago.
She said: “I am delighted that we have been able to secure this sale with such a well-regarded house builder as Bloor Homes.
“This is not only the good news that we could all do with at this time, but moving forward will enable the College to continue to invest in its ambitious property strategy, providing relevant, innovative and sustainable facilities that will help our learners to meet the skills challenges of an ever changing industrial and agricultural landscape.”
SMB Group advisor, Russell Rigby of Rigby & Co. adds: “This is a great outcome for the SMB Group – we promoted the site to the market in the depths of the first lockdown period, hoping for a fairly rapid and successful outcome and we are really, really pleased that we were able to help bring about a successful conclusion to this part of the transaction process.
“I would particularly like to pay tribute to all the advisors on both sides who have worked very hard during still quite unpredictable times.”