ABERYSTWYTH University will rush through the sale of two listed buildings as the institution battles to make savings of over £11m over the next two years.

The university listed two large properties on Laura Place with a combined asking price of £630,000 last month through estate agents Aled Ellis.

Despite a relatively short time being advertised, the agents are now inviting offers on the buildings by today.

The university has previously come under fire for letting the buildings become dilapidated, with residents labelling them an “eyesore” and “disgrace”, but it now says it hopes to “find a buyer who will restore the properties”.

To mitigate against any quick sale leading to a price well below market value, if either of the properties are sold again within 12 months the university has inserted an ‘overage’ clause which means it can claw back 50 per cent of any profits.

1 Laura Place, listed as a large nine-bedroom house, has been used by the institution for various functions and has an asking price of £335,000.

9 Laura Place, which had been the university’s personnel office, has 16 offices and is on sale for £295,000.

Both buildings are Grade II listed and require “extensive modernisation” and “redevelopment”, the agents said.

Two months ago, the university, which is the middle of a large-scale cost-cutting exercise, put two of its 18 empty properties — Cwrt Villa in Penrhyncoch and Ynys Werdd in Lluest — up for sale.

The university is also planning to sell 1 and 2 Marine Terrace, a pair of seafront Grade II-listed buildings; and 2 King Street.

The combined sales of the properties could see well over £1m poured into the university’s coffers.

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