Greycoat have bought the former ear, nose and throat hospital in Golden Square, London W1, from Bloomsbury Health Authority for £1.6m.
The building currently covers 40,000 sq ft and Greycoat intend to convert it into a property of the same size with offices and residential uses. The developers are currently talking to Westminster council about the scheme, which could involve total demolition or a refurbishment. A planning application is expected to be submitted in two to three weeks’ time.
The property has been reported as being occupied by squatters, but, according to a spokesman for Greycoat, this is no longer the case.
Keith Dalton & Associates and St Quintin introduced the scheme to Greycoat, and St Quintin have been retained as letting agents for the offices. Letting agents for the housing are Anscombe & Ringland, while G L Hearn & Partners acted for the health authority.
