Case Study: Former British Railway Board site sold to Education Funding Agency
Our Corporate Real Estate department has been instrumental in the sale of a 25,000 sq ft former British Railway Board site in Derby, to the Education Funding Agency acting on behalf of Al Madinah School.
Formerly used by the British Railway Board as a site to develop railway technologies, prior to its privatisation in the 1990s, the Faraday and Harley House site includes a mixture of both clerical and industrial buildings.
London and Continental Railways' property manager, Steve White, said: “We’re delighted with the terms of sale Sanderson Weatherall was able to achieve for the Faraday and Harley House site.
“The buildings have a long history and it’s great to know they’re being repurposed as a school, a move that will keep the building occupied for many more years to come.”
Luke Barrett, associate partner in our Corporate Real Estate team said: “The sale of Faraday and Harley House site presented some interesting obstacles to overcome. The property is unusual, being a mix of office, lab and workshop space, and having quite a basic specification meaning the market on the basis of the existing use was quite limited. However, the property has attributes making it very well suited for a school and I’m delighted that Al Madinah School has located a property that matches its requirements so well.
Faraday and Harley House is currently being refurbished ahead of Al Madinah School opening its doors at the start of the 2016/17 academic year, in September.