The University of Nottingham has put its Castle Meadow campus on the market as part of a wider review of its property estate.
Property firm CBRE has been appointed to handle the sale of the 10.6-acre city centre site, which the university bought for £37.5 million in 2021.
The decision comes only months after the latest phase of redevelopment work at the campus opened. The university has invested more than £80 million in the purchase and redevelopment of the site since acquiring it.
Castle Meadow is made up of seven Grade II-listed buildings, including six office buildings and a central amenity block. The campus was originally designed by architect Sir Michael Hopkins and was the first building in the UK to achieve the highest possible rating under the BREEAM environmental assessment scheme.
The sale is part of the university’s ongoing review of its estate as it looks to reduce the size and cost of its property portfolio. The institution has previously said its estate costs around £100 million a year to operate and that this level of spending is no longer sustainable.
Last year, the university also confirmed plans to sell its King’s Meadow campus.
CBRE’s capital markets and development team has been instructed to find a buyer for the Castle Meadow site. Two external tenants, Arden University and Nottingham College, are expected to remain on the campus while the sale process takes place.
CBRE said the site offered potential for investors to receive income from existing occupiers while considering redevelopment or alternative uses for empty buildings.