Record site sale for NHS Property Services
Mon 19th March 2018, 10:21 am
Housebuilder Bellway Homes has purchased the vacant St. George Hospital site in Hornchurch, in the London Borough Havering, for a record £40 million.
The site comes with an outline planning permission for 290 homes, 15% of which are affordable. Although the 11.7 hectare site was deemed surplus by the Havering Clinical Commissioning Group, part of it has been retained for a future health facility.
Peter Knight, managing director of Bellway Homes Thames Gateway division, said: "We felt this former hospital, which has lain derelict for five years, provided us with an excellent plot to build new homes in Hornchurch."
The sale is the largest single capital receipt for a surplus site achieved by NHS Property Services since it was established in 2013.
Dan Hotson, senior transaction manager at NHS Property Services, added: "Not only has this sale generated millions of pounds for reinvestment, it means an empty site can be brought back into use as much-needed new homes in London. We will continue to work with Bellway as plans are considered for the potential new health facility on the adjoining plot."