A university campus in Caerleon, which features in the hugely popular Netflix show Sex Education, is set to be acquired as part of plans for a residential development.
National property developer Acorn Property Group has agreed terms with housebuilder Redrow to acquire the Grade-II listed campus building, which is the setting for the fictitious Moordale High School in the TV series. The value of the acquisition has not been disclosed.
Formerly one of the buildings owned by the University of South Wales, Caerleon campus was closed in 2016 and has since remained vacant. In 2019, it was acquired by Flintshire-headquartered Redrow for £6.2m for the development of 220 homes.
Read more: Cardiff agency wins second Welsh Government contract for Cymru Wales brand
Redrow said it decided to sell the listed property because its expertise is in building new homes rather than delivering regeneration projects, adding that Acorn were “experts in the renovation and conversion of historic and listed buildings”.
Acorn said it plans to restore and convert the historic building into new homes and apartments, known as Tempus at Parc y Coleg, which will sit alongside Redrow’s Parc y Coleg development of 170 homes. It added that the £8m refurbishment of the building will generate £16.4m GDV (Gross Development Value).
The Tempus development will feature 44 one- and two-bedroom apartments within the former university building and four one- to four-bedroom houses within the former Principal’s residence and caretaker’s lodge.
Acorn said it will complete a programme of external renovation works ahead of the completion of the site acquisition.
Most Read
Regional managing director of Acorn’s Cardiff office James Groombridge said: “We’re excited to be part of the redevelopment of this iconic site in the historic town of Caerleon, a town with a wonderful local history spanning from the Roman era.
“We look forward to delivering a scheme that not only preserves the now famous Grade II listed building on the site, but provides beautiful new homes fit for modern living.”
Wayne Rees, land director for Redrow in south Wales, said: “We are known for building stand out new homes in outstanding places, rather than the delivery of regeneration projects, hence our decision to sell the Grade-II listed building to Acorn. They are the experts in the renovation and conversion of historic and listed buildings.
“Their team will now work with us over the next 12 months to complete the site clearance and external refurbishment works ahead of converting the building in line with the planning consents.”
Sign up to the BusinessLive Wales newsletter and follow us on LinkedIn
As well as an in-depth early morning newsletter, we will be sending out regular breaking news email alerts. To sign up to this service
And, follow us on to catch the latest stories and to network with the Welsh business community.