Report of school getting demolished (5)
I believe the answer is:
eaten
'demolished' is the definition.
(I've seen this before)
'report of school' is the wordplay.
'report of' shows a homophone (sound like) (how it'd sound if reported).
'school' becomes 'eton' (famous UK public school).
'eton' sounds like 'EATEN'.
'getting' acts as a link.
(Other definitions for eaten that I've seen before include "Put away" , "Scoffed" , "Polished off" , "absorbed in the system" , "Consumed" .)