The University of South Wales (USW) has agreed the sale of the former campus site in Caerleon to Redrow.
The price has been agreed as £6.2m. An independent valuation says this represents its fair market value.
As USW does not use or need the former campus, selling the site is part of USW’s charitable obligations to make the best use of its assets to support teaching and learning in higher education.
This sale will allow USW and its partners to move forward and explore what is now possible in the timing and funding options for the development of higher education in the Newport city centre. We will work with Newport City Council on the future in the city.
The new owner will now work with the council on the future of the Caerleon site.