Sevenoaks School for sale

[AnonymousStudentParent]

Has anyone any more information about this? Apparently Sevenoaks School is in deep financial trouble and looking for a buyer.

I had a quick look. High income, lots & lots of employees (compared to number of students), which suggests a wealthy parent group willing to pay for that many employees. So I really do not know what you are on about. Maybe go look up how many employees the local grammar schools have relatively speaking.

All private schools have far higher staff:student ratios than do state schools. Smaller class sizes and more specialist teachers are a large part of what parents are prepared to pay for.

Look at Companies House, net incoming funds over 3 million for the year end to 31 July 2024.
Plus a new boarding house is mentioned.
Plus a lot of charitable donations.
Plus over 500 employees with just 1200 students.
Does not sound like a struggling school to me.

Look at the income to cost trend...

Are you trying to establish Sevenoaks as a struggling school? I don't think that's the case, and all of it based on hearsay. The finances look solid to me in comparison to other similar schools. A lot of the points you made don't stand OP, and I think we should leave it here until the school makes an announcement, if any. Maybe you didn't mean for it to come out this way, but it sounds like you are pushing an agenda.

Yes agreed it sounds like you are pushing an agenda.
I think all the top British private schools that all benefit from a very strong internationally recognised brand would always be able to cost cut significantly first, before selling out to private equity/dodgy international education groups. So if you are coming at it from that angle, you are not going to pick up a good deal.
And if you are a prospective parent or employee, then look at other cheaper options, of which there are plenty.

I am not going to comment specifically on the school’s financial situation, but I think VAT might have some impact on the number of day students going forward.

From the school’s admission page, just under 40% of students are boarders (450/1200). This leaves over 60% day students coming from local families. This group of parents have other options such as superselective grammars (no guarantee but we’re talking about academic, well supported children who consider Sevenoaks) and other private schools (for example, Caterham is up and coming and the fee is way cheaper).

It doesn’t mean they can’t afford it but one has to really question the value for money for Sevenoaks when including VAT.

I've got no agenda other than trying to understand the current situation of the market for private schooling. Plenty of closures and mergers have been announced in the press since the advent of VAT and that's likely to be the tip of the iceberg because the effects of VAT won't be fully felt for a while.

Tonbridge School charges even more for day pupils. I think these elite schools cater to a different demographic of international elite plus City bankers/lawyers/private equity and hugely successful business owners/minor celebrities (whether here or abroad). I am not sure for how many value of money comes into it. The brand has value that can be capitalised on. Harrow already did this more widely I think.
I really think if you heard about a sale it is more likely to be a branding deal with overseas educational groups possibly to raise cash for bursaries here, at least I think that’s what Harrow did.

That definitely wasn't the case. I'm not going to expand on what I know here.

So explain how you can sell a school with charitable status (where the charity owns the land) off to private equity? At least that much. Or does the charitable trust lease the land & buildings to private equity? Which trustees are signing off on this?

Lots of schools with charitable status have been sold off to private equity so clearly this is perfectly possible.

Which big schools have been sold off with grounds worth many millions to cover debt? With the Charity Commissioner’s consent?

@Araminta1003 register-of-charities.charitycommission.gov.uk/en/charity-search/-/charity-details/309481/full-print

Regarding value for money, it's always a spectrum, isn't it? Within the group of private school parents, it ranges from two working professionals and small business owers to multi-millionaires. On the one end, there are families who choose schools without even looking at the fees. On the other end, there are also families who have to do a bit of maths for this to work, and also some that Tonbridge is never an option to begin with. It's not only about finances but also the school's ethos and feel. I know a lot of parents interested in Sevenoaks who now look more carefully at other options. Even if they might end up there eventually, it is a trigger point. I appreciate this is anecdotal and it'll remain to be seen what happens with the school's admissions numbers..

I’m not surprised. Sevenoaks looks quite tense during independent school shows. Maybe they all are.

the 2024 financials are better than 2023 with some additional money in savings.
doesn't look like the auditors are concerned?

SEVENOAKS SCHOOL filing history - Find and update company information - GOV.UK

Are you sure that this rumour is not Sevenoaks PREP school in Godden Green, which is not closely (or at all?) connected with Sevenoaks School? It would make more sense if it was.

We are thinking of Sevenoaks. I just checked their companies house filings (as well as comparative schools) . They seem absolutely fine! It's not unusual for PE to try and move in on well established brand schools, particularly those with strong international reps. Most oversubscribed schools will generally be able to weather the VAT storm although they may end up being less selective overtime if more move to grammar.

Another nonsense post about Sevenoaks School. I wonder why there are people (a person?) on here targeting them...

Seems highly unlikely to me. Schools that have gone to the wall are very different from Sevenoaks. OP, I think your story - dinner party unfounded gossip - has no legs. If anything, a hedgie looking for an opportunity.