School that had to close worth £1m after all

Potential buyers will be expected to pay in the region of the disputed sum for the buildings, on a freehold site in a desirable part of Sheffield.

Brantwood School for Girls in Nether Edge was forced to close at the half-term holiday last month because it had loans with the RBS secured against its property and the bank was unhappy when the buildings were revalued at 600,000 rather than a previous value of 1m.

The bank described the lower valuation as "realistic" and refused loans above that figure, meaning the school had to close quickly rather than continuing until the end of the summer term as governors had hoped.

Now it has gone on the market, on the instruction of Grant Thornton LLP, administrators of South Yorkshire Independent Schools Trust Ltd.

The Victorian property occupies a plot on the corner of Kenwood Road and Kenwood Bank, in "the exclusive enclave of Kenwood which lies in the Nether Edge Conservation area" according to estate agents Eaden Lockwood and Riddle.

No valuation guide is given by the agents, but they have confirmed the guide price for the "fine" Victorian detached property is 1m.

The school, and a converted Victorian coach house, occupy a site covering almost an acre and the site may be suitable for residential purposes, if planning consent is given.

When the building changes hands, the buyer will take over a complete school, with classrooms, a hall, staff room, a professional kitchen, a play area and formal gardens