Melton Mowbray college and theatre site put up for sale for £3.5M

FHP Property Consultants has launched a marketing campaign for the Asfordby Road site, which is owned by Loughborough College Group, who say it is not financially viable for them to continue operating the college and theatre.

The property advert says it expects interest from businesses looking to establish a main office there and from developers looking to demolish the buildings and redevelop the land.

Other uses mooted by FHP are as a care home, community venue, retail or fitness centre.

The news comes shortly after Melton Borough Council agreed to list the site as an asset of community value (ACV), which gives it short term protection of up to six months if a community group makes a formal bid to take it on.

A spokesperson for Loughborough College Group told the Melton Times today (Thursday): “We can confirm the site is now on the market.

"The guide price reflects professional advice, and expressions of interest are invited via FHP Property Consultants.”

David Hargreaves, who is presenting the site as a prime development and investment opportunity on behalf of FHP, said: “There are a whole variety of options for this site and buildings, for example the buildings would be ideal for any company looking for a low cost Head Office.

"We would also expect interest from Developers to demolish the main buildings to create a Development Site.

“The Redevelopment option could see Affordable or Open Market Housing, Retirement Living, a Care Home on the site, a community venue of some nature, or alternatively a Retail led Development with a food store, Gym, a Drive Thru or similar subject to securing the necessarily planning permissions.”

Two viewing days are being hosted for interested parties on February 26 and March 12 with appointments needed to attend.

The site is 3.5 acres and comprises the much-loved 340-seat Melton Theatre, which has been a vital part of the town’s cultural scene for over 40 years.

The college campus now only hosts performing arts students after other courses at the college were relocated to the Brooksby campus.

The sale site also includes Melton Library, fronting on Wilton Road, but FHP say the library service would continue as part of a long-term lease with Leicestershire County Council.

FHP say it is hoped that a buyer for the site will be secured by this summer with completion in early 2027.

Dom Alston, of FHP, said: “We will be holding two viewing days.

"Full survey drawings of the building, photos and a drone video are also available to interested parties.”

Loughborough College Group recently confirmed it had not so far received any proposals ‘that demonstrated both value for money and long-term sustainability’ which was why it was planning to put the site on the market.

Discovery Trust, with help from Access All Areas, is known to be interested in using the college campus site as an expansion of Melton Mowbray’s Birch Wood Area Special School, offering 75 new places for youngsters of all ages with special educational needs and disabilities (SEND). The theatre would also be retained as part of the plan.

Anyone interested in the site is asked to call David Hargreaves on 07876 396003.