What happens to school land and buildings when a school becomes an academy?

If the Conservative Government proceeds with its plan to convert all schools in England into academies this begs the question, what happens to all the valuable school land and buildings paid for by taxpayers and largely controlled by local authorities? Our land and school transfer briefing explains the current arrangements for land transfers when a school becomes an academy and highlights NUT concerns about the proposed new arrangements set out in the White Paper. The NUT argues that these open the door for the privatisation of highly valuable state assets