BOSSES of a Winchester private school will share a possible seven-figure sum when the school is sold to developers.

The 130-pupil Nethercliffe School in Hatherley Road, Fulflood, will close on July 14 after 90 years.

Headmaster Gordon Whitfield said in a statement last week that the £5,360 a year school was closing because of falling numbers and increased operating costs.

He has admitted to parents there is a business aspect to the closure, although he had originally hoped to sell the school as a going concern and keep staff together.

In a letter to parents, a copy of which has been obtained by the Daily Echo, Mr Whitfield explained there were two shareholders, as well as himself, with "a vested interest" in the outcome of any sale to developers.

Mr Whitfield said the two other directors, identified as AMP Whitfield and DML Whitfield, "have waited over 30 years to realise their inheritances"

He added: "I cannot ignore their wishes and so the closure of the school for development purposes is the only realistic business decision left to us."

It is thought the school would be worth a seven-figure sum to property developers.

Mr Whitfield wrote: "We are advised that to try to continue operating the school with these low numbers would be financially impossible and would soon run the business into deep debt."

The "unexpectedly low" numbers in the nursery and reception year have not improved and look unlikely to rise. This would lead to other years in the school running well below capacity. This change in pupil numbers would trigger a hefty loss next year which, coupled with routine rises in all areas of expenditure, the school could not financially withstand," the letter reads.

Mr Whitfield added: "This is a desperately difficult decision to accept, seeing 35 years as head come to such an end, and to know of the effect on pupils and staff at having to find new schools."

Parents of children at Nethercliffe, have largely remained tight-lipped about the closure. One parent, who asked not to be named, said: "I can see his (Mr Whitfield's) position. I can understand and do have sympathy with him."

A spokesman for Nethercliffe School said Mr Whitfield was unavailable and would not be making any further comment.