Industry News
Property fund purchases private group
Posted on 17th December 2007
A property fund has announced it has purchased the Wetherby Preparatory private school as part of a £100 million deal.
Delancey Estates has bought Alpha Plus, the second-biggest owner of independent schools in Britain, and therefore now owns Wetherby Preparatory - a school previously attended by Princes William and Harry.
Ryan Robson, managing partner of Sovereign, the firm which had owned Alpha Plus, said Delancey Estates would offer the schools group good business opportunities.
"This will turbo-charge its growth as it will bring that level of resources needed to open new schools," he argued.
According to the Financial Times, the portfolio contains 18 schools and colleges and was bought for £113 million.
It states that Delancey Estates is now seeking permission to expand the "elite independent private schools group".
Wetherby Preparatory school accepts boys from the age of eight for five years, preparing them for their 13+ Common Entrance Examinations.
© Adfero Ltd