Charity used land leased to academies to secure a loan

Schools Week reported that land leased to two academies for 125 years at peppercorn rent is under threat after the sponsoring 'charity used the land as security for a mortgage to buy an adjacent plot for £1.4 million...'

 'Charity Commission has said that the land is at “significant risk” after the trustees defaulted on repayments' Mentions: Wolverhampton-based Nanaksar Thath Isher Darbar (NTID) charity.

The leased land is in Hayes, north London: Nanak Sikh academy and the Nanaksar free school.