Undisclosed deal for college site
Fife campus sold to London developer
Fife College’s Priory Campus in Kirkcaldy has been sold to a London-based developer for an undisclosed sum.
Commenting on the sale, Jonathan Reid, partner at Shepherd Chartered Surveyors which handled the transaction, said there had been several expressions of interest in the unique development opportunity.
“This inward investment represents a significant boost for Fife’s property market and illustrates the Kingdom’s appeal to property developers throughout the UK,” he said.
The Priory Campus ceased to be an operational facility for the College in July last year as part of the implementation of the College’s Estates Strategy.
This has seen a consolidation of activity in Central Fife at the St Brycedale Campus in Kirkcaldy and Stenton Campus in Glenrothes.
A new Levenmouth Campus opened in August last year in Buckhaven and a further £90million of investment in new facilities is planned for West Fife over the next few years.
David Neilson, Vice Principal for Finance and Planning at Fife College, said: “We are very pleased to have completed the sale of our former Priory Campus.
“This has been an exciting 12 months for us as we continue to take further steps forward in achieving the aims of our Estate Strategy. The funds raised from the sale will be reinvested in the College estate to create modern teaching and learning spaces which meet the needs of our students.”
The Priory Campus comprises a mixture of purpose built and converted properties in a mixed residential and commercial location on the outskirts of Kirkcaldy town centre.