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The academy trust in charge of the Island's secondary education is considering taking on a town centre building.
Sheppey’s Oasis Academy is in talks with Swale council over a £1 million takeover of the former council offices in Sheerness.
The Academy was given the cash to spend on “non-educational” items by the Roger de Haan Charitable Trust set up by the former Saga boss.
Steve Chalke, founder of the Oasis Group, broke the news to members of the Sheppey Community Development Forum at the school’s Minster campus last week.
The academy is investigating plans to invest the money into Masters House in Trinity Road.
Mr Chalke said the value of the money, which is held in a trust, was depreciating and interest rates were at an all-time low.
He said: “We can only spend the interest and we can’t spend it on anything to do with education such as pens, paper, books and teachers. But because of inflation we need to devise a way to keep it topped up and to create an income stream.
'We can only spend the interest and we can’t spend it on anything to do with education' - Steve Chalke
“We need to have a conversation about how to use it better.”
One idea, he said, was to take over the former Sheerness Urban District Council building which is now home to the newly-created Sheerness Town Council.
Mr Chalke said: “One of the problems Sheppey has is attracting professionals like teachers and health staff to live and work on the Island. Masters House is pretty well derelict. It needs around £300,000 work spent on its roof, windows and heating. We could invest in that and with the remaining £600,000 kit it out so key workers could live upstairs.
“It would be an incentive for people to come to the Island.
“Downstairs could be used as a community hub for a toy or clothes bank or a meeting place for young mums.”
But he stressed: “We don’t want to tread on anyone’s toes. We just want to help make a difference.”
Swale council has been in talks with a number of organisations, including the academy and the town council, about the future of Masters House.
A Swale council spokesman added: “It’s our priority that the house remains a community building that provides meaningful contribution to the local area.
“It’s early days but we’re optimistic that a practical solution can be found.”
Community development forum members suggested the academy should also look at the unused former Royal Naval Hospital on the site of the former Sheerness steel mill off Brielle Way, now owned by Peel Ports, and convert it into a training hotel for catering students with accommodation for key workers upstairs.
'It’s early days but we’re optimistic that a practical solution can be found' - Swale council spokesman
County councillor Ken Pugh said he had suggested Swale council convert the 1857 building into temporary housing for the homeless but had been told the £6 million price tag was prohibitive.
Sheerness Town Council has already lodged a bid to take over Masters House.
Cllr Chris Foulds said: “We have sent an ‘expression of interest’ to the leader and deputy leader of Swale council asking for an ‘asset transfer’ for the building to the town council.
“We feel strongly that so many local assets have been lost.
“This building particularly, should serve the community and not be used for financial gain to a larger organisation.
“We had a speedy reply from the leader Cllr Roger Truelove assuring us that although Masters House has been spoken about, there are no negotiations currently with anyone.
“He said both Sheerness Town Council and Swale council have similar objectives for the long-term use of Masters House and would hope to work together for the betterment of the building and the community.
“We are arranging a meeting for initial discussions.”
In the letter to Cllr Truelove, town council chairman Matt Brown said he was concerned about a number of “unannounced visits” to Masters House from representatives of “numerous organisations”.
He said: “We are concerned that an outside organisation may make a bid for the operation of the building, depriving the community of Sheerness control of this valuable heritage asset.
'We are concerned that an outside organisation may make a bid for the operation of the building' - Sheerness Town Council chairman, Matt Brown
“The old council offices has an important history of providing services to Sheerness.
“It is an asset bought by ratepayers many years ago. It is considered a public asset and should, in our view, remain as such.”
The town council uses it as an office and to train councillors. The premises are also used for small start-up companies and community organisations.