A former school house that a council sold for just £9,500 more than 40 years ago is back on the market, less than a year after the authority paid hundreds of thousands of pounds to buy it back.

Norfolk County Council (NCC) cabinet members have agreed to dispose of the property adjoining the former primary school in Sedgeford, which shut in 2020 due to dwindling numbers.

It was sold to a private owner in the 1980s before being bought back just 10 months ago for a significantly larger sum.

The former primary school at Sedgeford, which closed four years agoThe former primary school at Sedgeford, which closed four years ago (Image: Chris Bishop)

The property was due to be put on the open market, until the authority stepped in to acquire it. While the sum paid has not been officially disclosed, Zoopla estimates the current value of the property at £317k. 

While a seemingly bizarre transaction, County Hall made the move to support a planned redevelopment of the site.

The plans for the Sedgeford school developmentThe plans for the Sedgeford school development (Image: Repton Homes/Torrington Properties)

The buildings could be converted to make way for 20 houses and flats on the Ringstead Road site, if plans are approved.

NCC intends to sell off the home to Repton Property Developments, a housing company owned by Norfolk County Council undertaking the project.

The scheme is aimed to create more affordable homes for first-time buyers in the attractive village, located in the Norfolk Coast Area of Outstanding Natural beauty.

Speaking about the decision, councillor Graham Peck, who is also chairman of Repton Property Developments, said: "The opportunity to recycle and reuse redundant county council-owned properties is a win-win."

Sedgeford has a high proportion of second homes and holiday letsSedgeford has a high proportion of second homes and holiday lets (Image: Chris Bishop)

The small community has faced increasing pressures on housing due to 40pc of its properties being used as holiday homes.

Villagers have since voted to curb the number of second homeowners by introducing planning rules that stipulate new developments must be used as permanent residences.

The former school house is one of several properties that NCC has decided to dispose of.

The Carnegie Library in King's Lynn will also put on the market as a lease or freehold.

It will be offered initially to charity and community groups, in the hope it will continue to be used as a community asset.