Discover Sunderland’s most expensive public building

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A SCHOOL has been revealed as Sunderland’s most expensive public building.

New figures show Monkwearmouth School is the city council’s most valuable asset – worth £25.508million.

Schools made up three of the five highest-valued council-owned buildings in the city, according to information released under the Freedom of Information Act.

The Empire Theatre comes in second, most recently valued at £27.146million, in April 2010.

Biddick School is worth £24.698million, the Olympic-standard Aquatics Centre £23.103million and in April 2008, Oxclose School totalled £22.415million.

In County Durham, the County Council’s civic centre at County Hall tops the table, worth £3million.

A facility shared by the NHS and council in Seaham, St John’s, is fifth with a £1million value.

Buildings in Spennymoor, Meadowfield and Tanfield Lea also featured in Durham’s top five property portfolio.

Property expert Jason Roberts said: “It should be noted however, that most of these properties are valued for their bricks and mortar as one might value a house, but as an asset.

“How much income they generate for their respective owners dictates their value and that is why some properties that may seem relatively basic or small can some large values attached to them.”