Money in the Potters Bank
Uni sells prime plot of land to generate cash for academic building revamp
The TabThe uni has sold off a prime chunk of land for almost £5million.
Most of the money from the sale of land on Potters Bank will be ploughed back into academic buildings.
The uni has sold a 4.9 acre site on Potters Bank
But the uni has also committed £500,000 from the deal to building affordable housing and local art space.
Housebuilder Persimmon bought 4.9 acre site and already has planning permission for 22 ‘executive-style’ homes on the site.
Matthew Wright, Durham University estates surveyor, said: “The university is undertaking significant redevelopment of key academic buildings within the city, most recently Durham University Business School.
“The capital receipt from the sale of Potters Bank will allow the university to continue to provide the environment that attracts the best academic staff and students to Durham.”
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