NHS Property sells former St George’s Hospital site in Hornchurch to developer for £40million
PUBLISHED: 16:40 08 March 2018 | UPDATED: 16:41 08 March 2018
The NHS has confirmed it has sold the former St George’s Hospital site in Hornchurch to a developer for more than £40million.
NHS Property Services today (Thursday, March 8), announced the 11.7 hectare site in Suttons Lane has been sold to housebuilders Bellway.
The site was deemed surplus to Havering’s healthcare requirements back in 2012 and has stood empty since then.
It currently has planning permission for 290 new homes, 15pc of which would have to be affordable.
The transaction, handled by Savills, is the single largest capital receipt for a surplus site in NHS Property’s history.
John Westwood, director of asset management at NHS Property Services, 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.”
A 1.6 hectare section of the site had been retained by the NHS for a potential new health facility.
Senior transaction manager, Dan Hotson 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.”
Bellway is rated as a five-star provider of new homes by the UK’s Home Builder Federation.
Managing director of the company’s Thames Gateway Division, Peter Knight, 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.
“Where there is a demand for new homes Bellway is keen to invest.
“We are excited to have been able to purchase this site, generating capital for the NHS, while also contributing much needed homes in the area at an exciting time, when investment is being given to the nearest town of Romford and the introduction of Crossrail.
“We will deliver a scheme here that reflects the local area and bring an empty site back into use for the wider community.”