I just caught this article from FE Week: http://feweek.co.uk/2016/06/30/fears-private-sector-will-asset-strip-colleges/?mc_cid=87444c1917&mc_eid=800856855b
— FE Week (@FEWeek) 1 July 2016
While we need FE colleges to have academically appropriate curricula and to be financially solvent, that is not necessarily the function of private business, which may (reasonably) look more to the value of the land the college occupies than the educational and community purposes it serves. There is also a qualitative difference between generating surplus and making profit.
It may be that a templated cooperative solution is as urgent in FE now as it was in the Schools sector just a few short years ago.