Sale raises ‘record amount for reinvestment’

NHS Property Services has raised ‘a record amount for reinvestment in the NHS’ by selling the vacant and surplus former St George’s Hospital site in Hornchurch, Essex for over £40 m to national housebuilder, Bellway.

The transaction, handled by Savills, is the largest single capital receipt for a surplus site achieved by the body since its establishment in 2013. NHS Property Services secured outline permission for 290 new homes, including the provision of 15% affordable housing. John Westwood, director of Asset Management, said: “This sale is a great example of how we help the NHS by using our expertise to unlock potential and achieve best value for surplus sites.” 

The site was declared surplus to the NHS’s needs by Havering Clinical Commissioning Group. A 1.6-hectare portion of the 11.7-hectare site has been retained for a potential new health facility. Senior transaction manager, Dan Hotson, added: “This sale generated millions of pounds for reinvestment, and means an empty site can be brought back into use as much-needed new homes.”

 

 

 

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