When they built a new hospital in my town, we were told that it would be the answer to all our ills. It wasn't. It barely made any difference.
In my experience,schools are even less compelling. The best 2 schools in the town I was raised in were a boys' comprehensive and a private (but not especially posh) girls school. Both were mostly made up of buildings that were 50 years old. I'd go further - all the schools which had been built within the past few decades were the ones that people tried not to send their children to.
Now, it's possible for me to get data on league tables, but anyone know where to get tables on the ages of schools?