Scottish university rationalises sites and asset base

Brief

Ayshire College rationalised a number of higher education sites and in 2016 invested in a new campus in Kilmarnock.

As a result of this rationalisation, the assets from engineering, vehicle repair, construction and beauty departments as well as canteen and teaching equipment became surplus.

However, many assets had a zero value requiring removal and disposal costs.

Work

To achieve a sale of over 1,000 diverse assets across many sectors, they were sold by on-line auction. The sale achieved significant local interest and global buyers achieving over £200,000.

Outcome

Importantly, the realisation enabled the college to vacate the premises with a positive net revenue.

Many of the unsaleable assets were transferred at zero cost to other public bodies, importantly minimising waste to landfill.

Testimonial

“Thanks, and well done – this is great result.”