Enfield council has granted outline planning permission for the redevelopment of a 16ha site plot at Chase Farm Hospital in the north London borough.
The scheme will consist of a new hospital, 500 homes and a primary school.
Paul Burley, partner at Montagu Evans, which has been appointed as consultant on the project, said: “Everyone at Montagu Evans is extremely pleased with the council’s decision and proud to have worked in partnership with the trust property team to kick-start such a worthwhile and transformational project.”
