The former Plymouth College Preparatory School located within the historic Millfields Estate in Stonehouse has been sold to Spaghetti Bridge Ltd, to re-open as a school for Special Educational Needs. The Millfields was a former Royal Naval Hospital until the Early 1990’s after which it was sold and developed to accommodate a range of uses including residential, offices, light industrial aswell as the school use.
Commercial property agent Monk & Partners jointly with Savills LLP were instructed by the Independent School, Plymouth College to dispose of the property in the summer 2021 after the school relocated the Prep into a newly refurbished set of buildings at the Main School site at Ford Park Road, Mutley bringing the full range of school ages together onto one campus.
Comprising around 50,000 sq ft of buildings including Sportshall, Chapel and sports field on a site of around 4 ½ acres the former Prep School was marketed for sale Freehold last Autumn only for the chosen bidder to pull out resulting in the property being remarketed in May/June 2022. Spaghetti Bridge looked at the school on the first round of marketing only for it to clash with other acquisitions they were making at the time. The return to the market in May therefore proved opportune for them to reignite their interest and ultimately acquire the property.
John Slade of Monk & Partners commented “ We were delighted to have been selected to offer such a prestigious block of property to the market for the School alongside international property agents Savills. The property gained wide ranging interest but it was disappointing when the transaction faltered as this one did earlier this year. We were pleased therefore when Spaghetti Bridge re-emerged as a buyer second time around. In the end we had two Schools wishing to purchase the property along with a handful of other speculative purchasers. The transaction completed at the end of September.