The Royal Brompton hospital is to sell 3.5 acres of prime location land in Chelsea. The three sites in question border King’s Road and Fulham Road and will be sold for residential and commercial development.
The land sale has been described as one of the most lucrative in London since the £959 million disposal of the Chelsea Barracks site six years ago. On this occasion experts estimate the sites will raise around £350 million but, following development, they could be worth as much as £1 billion.
All proceeds from the sale will be reinvested into healthcare, helping the hospital to modernise its buildings and meet the needs of patients.
“This capital investment is absolutely essential as it becomes increasingly difficult to continue providing high-quality patient care from some of our current buildings which are over 170 years old,” NHS Trust executive Bob Bell Told the Evening Standard.
Kensington and Chelsea Council supports the hospital’s consolidation plans and will begin a public consultation shortly. Plans are then expected to be submitted by the middle of next year. The hospital will seek planning permission before the sale and developers may have to wait until the end of 2015 for the land to reach the market.
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