Historic Moorfields Eye Hospital site up for sale

Thu, 31 Mar 2016 | COMMERCIAL PROPERTY

The historic, 117-year-old building in East London currently occupied by Moorfields Eye Hospital has been put up for sale by the NHS Trust.

The NHS Trust has cited the booming East London property market as one key reason for moving, as it seeks to take advantage of rocketing property prices, as well as wanting to relocate to more modern facilities.

By 2023, Moorfields Eye Hospital hopes to complete a move to the King’s Cross or Euston area in central London, as its current Old Street location is “no longer suited to the provision of 21st-century clinical care, research or education”.

Before placing the Victorian building and additional buildings on the site, such as Kemp House, on the market, the NHS Trust will seek planning permission from Islington Council to carry out conversion work. The building itself is not listed, but it does lie within a conservation area with certain protections in place.

The site will be advertised through estate agents Cushman & Wakefield, with a price tag expected to be in excess of the 2014/15 valuation of £78.8 million, especially after the proposed conversion work is completed.

Moorfields Eye Hospital is looking to move its operations to a new site along with its research partner, the UCL Institute of Ophthalmology. Both institutes are in discussions over their preferred location.

Julian Nettel, the interim chief executive of Moorfields Eye Hospital NHS Foundation Trust, said: “[A new site would] enable clinicians and researchers to collaborate more freely, to the benefit of Moorfields’ patients and for people with sight problems around the world.

“We will not be going to market until we have had approvals from our NHS and university partners and we will work with a development partner to secure final planning permission.”

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