Derwent London acquired City Road Island EC1, the site of the Moorfields Eye Hospital and the UCL Institute of Ophthalmology.
Derwent London has exchanged a conditional contract to acquire the freehold of City Road Island for a base consideration of £239 million. The sale is subject to receipt of final Treasury approval, which is expected in H2 2022. Completion is also conditional on delivery by Moorfields Eye Hospital NHS Foundation Trust and UCL of the new eye hospital at St Pancras and subsequent vacant possession of City Road Island which is anticipated in early 2027.
Derwent London have regeneration plans for this important 2.5 acre site, located in the heart of the Tech Belt where the Group has substantial holdings. Derwent London’s early appraisals show the site has potential to deliver a major 750,000+ sq. ft. campus with generous public realm and strong environmental credentials.
Slaughter and May’s team included Jane Edwarde (Picture), Partner, Richard Keczkes, Senior Counsel, Venetia Speke, Associate, Natalie Cook, Partner,
Sophie Madden, Associate, William Watson, Senior Consultant and Ed Milliner, Senior Counsel.
Involved fees earner: Natalie Cook – Slaughter and May; Jane Edwarde – Slaughter and May; Richard Keczkes – Slaughter and May; Sophie Madden – Slaughter and May; Ed Milliner – Slaughter and May; Venetia Speke – Slaughter and May; William Watson – Slaughter and May;
Law Firms: Slaughter and May;
Clients: Derwent London;