Derwent London to Acquire Freehold of City Road Island EC1.
MANews-(C)2009-2022
UK-based property company Derwent London plc (LSE: DLE) has exchanged a conditional contract to acquire the freehold of City Road Island EC1, the site of the Moorfields Eye Hospital and the UCL Institute of Ophthalmology, the company said.
The site is being sold by Moorfields Eye Hospital NHS Foundation Trust and UCL, together the Oriel joint initiative, for GBP 239m (USD 295m) before costs.
This is subject to receipt of final Treasury approval, which is expected in H2 2022.
Completion is also conditional on delivery by Oriel of the new eye hospital at St Pancras and subsequent vacant possession of City Road Island which is anticipated in early...
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