The Cass has confirmed it has sold its Aldgate home despite protests from students, staff and leading industry figures
Developer Frasers Property announced it had paid an undisclosed sum for the London Metropolitan University’s (LMU) 1960s Central House building - a former textiles warehouse and the much-loved home to the university’s school of architecture.
The Cass will lease the building in east London from the property company until August 2017.
The sale is part of a controversial scheme which will see the school relocate from its so-called ‘Aldgate Bauhaus’ to join other departments at LMU’s campus in Holloway Road, north London. The move is expected to reap £50 million for the university.
The plans had sparked outrage and were met with protests and the resignation of a number of key members of staff including head of school Robert Mull.
A petition against the proposed move had gained more than 3,000 signatures and leading names including David Chipperfield and Richard Rogers had also voiced concern over the plans.
A spokesman for the Cass told the AJ: ‘We have negotiated a sale price which is significantly above the expected market value, which means we can put even more resource into our One Campus, One Community project to create a new home for The Cass and all of our students in Holloway.’
He added: ‘We are creating a new home for The Cass in Islington and are committed to ensuring its making ethos and philosophy of teaching endures.’
In a statement Frasers Property said it was considering its options for the site and is set to consult with stakeholders and the local community.
Simon Lear, chief executive of Frasers Property said: ‘Central House is very well-located, and [we are] delighted to have this fantastic opportunity to add to the thriving and vibrant mix of culture and commerce in the area.‘