What happens if the developer goes bust or pulls out for any reason?
The short answer is nothing that will effect the school. The school trust signs a long lease to occupy the educentre, effectively in perpetuity, according to the terms of the lease. It does not matter to the school who owns the lease. The ownership of the lease will operate as any normal lease. In the event of the bankruptcy of the lessor, the lease would be sold by the liquidator to a new lessor who would be legally bound to comply with the terms of the lease. Further, the Education Act 2006 specifically says that if there were ever not to be a school on the site, the school assets will revert to the local authority ownership.
