Greenmount Primary school moved from its historic building in Green Street to the former Mayfield Middle site in 2011, leaving the 19th century building empty. Now, a preferred bidder has made two offers, one being £100,000 short of the original asking price of £500,000 back in September.
The proposals put forward to the Isle of Wight Council by the preferred bidder include:
• An offer of £400,000 with planning permission being granted for conversion to residential use with at least three car parking spaces on site
• An offer of £450,000 for conversion to residential use with at least seven car parking spaces on site.
Should the planning permission be refused, the bidder will not purchase the site.
A delegated decision to proceed with a conditional exchange of contracts is to be made from the 17th May 2012.