The High School of Dundee is selling the former Dundee Post Office building it bought with the intention of turning it into an arts centre.
The grand building sits on the corner of Meadowside, Euclid Crescent and Constitution Road, opposite the Howff graveyard.
Dating from around 1898, the substantial B-listed building has three floors plus an attic and basement.
It was Dundee’s main Post Office building and latterly used as nightclubs Circus and London.
It is on sale for offers over £500,000.
High School plans for Dundee post office
The High School of Dundee purchased the building, which sits opposite its primary school, in 2013.
It planned to invest £16 million into creating a Centre for Performing and Visual Arts to benefit the whole city.
After five years of fundraising, in December 2020 the private school said the plans had been shelved as it looked to future-proof its entire campus.
The decision to sell the building was taken in late August this year by the school board. It is now being marketed by Shepherd as a development opportunity.
Chair of the board Kay Pratt said the move was the result of an estate survey and “substantial changes in the world economy over the last few years”.
She said it would now be “extremely challenging” for the educational establishment to raise the funds.
“While the school is in a secure financial position, it is an unavoidable fact that financial circumstances across all sectors have changed since the Post Office building was purchased,” she said.
“The board’s overriding ambition is to prioritise an exceptional learning experience for all.
“Selling the Post Office building will allow us to focus all of our efforts on the outstanding facilities that we have across our estate, ensuring that we can enhance and utilise them in the very best way.”
Lots of interest in historic building
Jonathan Reid, a partner with Shepherd, said there has been lots of interest in the building.
There is a closing date of November 29 for people to submit offers.
Mr Reid said: “We’ve had a good level of enquiries, mainly from those seeking to convert to residential use.”
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