Summary
University of Gloucestershire has placed its Francis Close Hall Campus on the market, as it explores options for the long-term future of the historic Cheltenham site. The university has appointed commercial real estate advisers Avison Young to market the campus and find out about the level and nature of interest in the site.
Details
The move is a big step in the university‘s work around the future of Francis Close Hall (FCH), which was built in 1849, as part of its wider commitment to providing students with a high-quality education, supported by learning environments and campuses which are sustainable and affordable for the future. The university said this is not a definite decision to sell or lease the campus.
Instead, it said testing the market will give it a clearer picture of the options genuinely available. These could include interest in all or only part of the campus, meaning the university could potentially retain a presence at FCH, even if a buyer or leaseholder is found.
Teaching and other activity at FCH will continue as normal and the majority of programmes taught at the campus will remain there until at least 2029. Camille Stallard, chief financial officer at University of Gloucestershire , said: “Francis Close Hall is a much-loved part of our university, with a long history and strong connections to generations of students and staff, as well as the wider Cheltenham community.
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“Putting FCH on the market is an important next step in helping us understand the genuine options for its long-term future, but it is important to be clear that this does not mean the campus has been sold or that we have already decided what will happen to it. “We are testing the market to understand what interest exists and what ideas may come forward.
That will give us much better information on which to base future decisions, while ensuring the needs of our students and staff remain at the heart of our plans.” While marketing the site is a significant development, there will be no immediate change for students or staff as a result of the announcement. Should any programmes ultimately relocate from FCH, they will remain based in Cheltenham.
The university said it will consider the interest generated through the marketing process before making any further decisions about FCH and will continue to keep students, staff and the wider community updated.
Report source: Punchline Gloucester
