The Old Palace of John Whitgift Pre-school & Preparatory School, a renowned girls’ school in South Croydon, has been put on the market with an asking price of £7.5 million.

The Whitgift Foundation, Croydon’s largest landowner, cited ongoing financial struggles as the reason for the sale.

The 1.9-hectare site, features 11 buildings including classrooms, a gym, and a library, is available for potential redevelopment.

The Whitgift Foundation, cited a £19.9 million loss in the charity’s finances in 2022. The chair wrote: “The school has struggled financially for many years, and the foundation has supported the school from its general reserves in the expectation that the financial situation would improve at some point”.

The senior school, which occupies several Grade-listed buildings in Croydon Old Town, will also close, but has not been put on the market.

Emma Cleugh, head of the education & charities team at Knight Frank said: “This large freehold property, most recently used as a school, presents a rare opportunity of scale that spans across 4.5 acres of grounds and is set in a very well-connected location.

“Potential buyers have the option to continue the current use, or redevelop the site for alternative mixed or residential uses, subject to the necessary consents.”