The council will not have to chip in and may even make a small profit

The University of Portsmouth wants to teach thousands of students in Waltham Forest

Waltham Forest Council will not need to help fund the borough’s new university campus, a recent report reveals.

The University of Portsmouth intends to open its first university buildings in the borough next year, expanding over the next two years until it has room for more than 5,000 students.

While previous reports described the council as a “partner” on the project, suggesting it would chip in, the university is now partnering with developer Northchild Developments Inc.

The council thus “is not making a financial investment in this project, nor will it incur any future liability” and in fact could make a small profit of £230,000 selling the building that may act as the main campus.

A report prepared for council leaders on 22nd February states the current plan is to use Central House and the East London Business Centre in Hoe Street as the main buildings, ready by 2025/26, while smaller spaces in Juniper House and Blackhorse Road would open next year.

If, after reaching its full capacity, the university wanted to expand “it has been agreed… that Leytonstone and Leyton would be the focus for further growth and investment.”

The council has negotiated a sale price of £5.1m for Central House, after buying it for £4.87m last April. The campus is expected to bring in £372m of “wider economic benefits to the borough” over the next two decades.

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