Nottingham is selling its £80m campus months after opening – and could lose £64.5m on the deal

The University of Nottingham’s £80m Castle Meadow campus has officially been put up for sale, just months after partially opening. However, the campus may be worth over £60m less than it was originally bought for.

The university first announced plans to sell the city centre site in November of last year. On 30th June, it was revealed that estate agents CBRE were hired to find a buyer for the campus.

The former HMRC offices were purchased for £37.5m in 2021, with a further £40m spent to refurbish and develop the site.

Financial statements published by the university revealed that the site’s book value was £78.9m, taking into account the initial purchase price and refurbishment costs.

However, according to the Nottingham Post, it may be worth as little as £14.4m, a potential loss of up to £64.5m.

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Tom Nock, an associate director at CBRE, told the Nottingham Post the site offered “significant value-add and repositioning prospects” due to its “modern buildings and ample green spaces.”

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The Russell Group university said it faces annual costs of £100m, a figure it describes as “not sustainable.”

This news comes following the sale and closure of the King’s Meadow campus in 2025, as well as cuts to over 600 jobs and 40 courses.

The University and College Union (UCU) has previously described the development as a “vanity project,” blaming the investment for the university’s financial pressures and subsequent job cuts.

When the university first purchased the site, it outlined plans to transform it into an “enterprise campus,” with the aim of bringing together academic research and business.

External tenants Arden University and Nottingham College will remain onsite as sitting tenants.