GMPVF agrees £6m college deal
Greater Manchester Property Venture Fund has sold Kings Point to Oldham Council for use by Oldham Sixth Form College.
The 35,000 sq ft BREEAM rated 'very good' building on Union Street was completed in 2009 as a speculative office scheme.
Oldham Sixth Form College plans to run a Regional Science Centre at Kings Point with 21 laboratories for physics, biology and chemistry research, in partnership with Oldham Council and the University Campus Oldham.
Chris Cheap, director at GVA Grimley, said: "The sale of Kings Point to Oldham Sixth Form College is great news for the town because it means that the College will be able to relocate to a high quality building to facilitate its expansion programme and provide its students with all of the amenities that a 21st Century College requires. The intention with Kings Point was to raise the bar in terms of accommodation available within Oldham and it is evident that collectively, we achieved the desired outcome."
Ray Grainger from the GMPVF said: "Our brief was to deliver a landmark building in the Oldham town centre gateway location, and to incorporate renewable energy features. GMPVF and Oldham Council agree the joint objectives have been significantly exceeded."
The GMPVF is administered by Tameside Council and forms part of the Greater Manchester Pension Fund, the largest local authority pension fund in the country. GMPF owns assets worth £10bn and has a financial allocation to the GMPVF of £120m.
