Disposal of non-playing field land
The governing body, foundation body or trustees of a foundation, trust or voluntary school are also able to dispose of land and buildings they hold on trust for use by their school.
However, certain procedures need to be followed if the property was provided, acquired or enhanced at public expense.
The relevant legislation is Schedule 22 to the School Standards and Framework Act 1998 (SSFA) (as amended by both Schedule 4 to the Education and Inspections Act 2006, and Schedule 1 to the Academies Act 2010 as amended by Schedule 14 to the Education Act 2011).
The governing body, foundation body or trustees are required by Schedule 22 SSFA to give notice to the Secretary of State of their intention to dispose of their freehold interest in educational land. The Secretary of State may then decide to exercise powers under Schedule 1 to the Academies Act 2010 to direct the transfer of any part of the land to an academy or free school. Schedule 1 allows the Secretary of State to consider whether land can be used for a free school or an academy.
Trusts etc may even be entitled to compensation for land if the school; itself closes down. From the same web page:
Closure or discontinuance of a foundation, trust or voluntary school
When a foundation, trust or voluntary school is closed and being discontinued, those persons holding land for the purposes of the school need to apply to the Secretary of State to decide what should happen to any land used by the school that has been provided, acquired or enhanced at public expense.
This legislative requirement is contained in Part II of Schedule 22 to the School Standards and Framework Act 1998 (as amended by Schedule 4 of the Education Act 2006).
The Secretary of State’s powers enables her to:
require the land to be transferred to the school’s maintaining local authority
allow the governing body, foundation body or trustees to retain the land
or
require the land to be transferred to another maintained school
The Secretary of State also has the power to require the payment of compensation wherever this is considered appropriate. (My emphasis).