Ísaksskóli buys back its school building

Ísaksskóli has bought back the building that has housed the school for decades, mbl.is reports. The deed for the property at Bólstaðarhlíð 20 was signed on Monday, according to a statement from Reykjavík City.

The purchase was made under a repurchase right agreed with the city in 2011. The deal marks a milestone in the school’s 100th anniversary year.

Reykjavík City bought the building from the school’s self-owning institution in 2011. The purchase agreement included a 15-year provision allowing the school to buy the property back when its finances permitted.