The former Woolworths store – home to The Margate School (TMS) – has been bought from Brede Estates by a benefactor who has offered TMS a 20 year lease.
The Margate School (TMS), an independent, postgraduate, liberal arts school, had faced threat of imminent closure after several recent funding bids failed to materialise and then the property was put up for sale.
But following a fundraiser, online auction, benefit gig headed by Carl Barat of The Libertines and donations, the future is now looking more secure.
TMS is now looking forward to a summer of exhibitions of work by final year students on the European MA Fine Art and Visual Communications courses, plus vinyl recorded and pressed by the Sound Arts students, the Margate Festival of Design and a programme of courses.
A spokesperson said: “We would like to reiterate our thanks to the wonderful community that sent us such encouraging and supportive messages along with generous donations and participation in our fundraising through the CrowdFunder; the online auction; No Surrender, the benefit gig and 8 by Eight, the exhibition of photography.
“We have used this funding and motivational support to continue and to develop a number of new initiatives for The Margate School. These include submitting an application to The Charity Commission to set up a charitable arm to support bursaries and development to allow students to study with TMS who wouldn’t normally be able to due to financial constraints, alongside delivering an exciting and engaging public programme for the community.
“With the additional concern that our home, the former Woolworths, was for sale, The Margate School is pleased to announce that a benefactor has reached an agreement to purchase the building from its current owner, Brede Estates, who have accepted the offer which is now in solicitors’ hands.
“The School has been offered a 20 year lease which will secure the long-term occupancy of the current space in the building. The Margate School is immensely grateful to the benefactor and also Brede Estates for their support during this transition.
“We would like to extend a massive thank you to all of the School’s supporters, without whom The Margate School would not have progressed to where it is now.”
The Woolworths site had been put on the market for £1.85 million with Terence Painter Properties.
Woolworths closed in 2008 following the collapse of the company. The Margate store was purpose built at the corner of New Street for Woolworths in 1925 and traded its eclectic blend of pick ‘ n’ mix, records and then CDs and assorted items until the collapse.
In 2017 the Margate property was bought for £1.98 million by Brede Estates Limited.
Brede Estates directors were former Sands Hotel owner Nick Conington and John Adams, who – along with Mr Conington – was also a director of Nayland Rock Hotel Margate Ltd.
Sands Hotel shut last year and is due to reopen this July under new owners and a new name – No 42 Margate.
In 2019 The Margate School moved in to the Woolworths building after renovating several floors of the former shop.
