Berkeley Group and Langham Homes have purchased the Oakland hospital site in Caterham, Surrey, for a residential redevelopment.
The developers are believed to have paid around £16m to the Surrey and Borders NHS Foundation Trust for the 14-acre site.
Other bidders for the land, which has planning consent for 161 flats and a new mental health facility, are thought to include Bellway and Bovis Homes.
Kerry Bourne, director at GVA, which advised the NHS, said: “Following complex negotiations to deliver a viable scheme on behalf of our client, this is an important milestone in ensuring their ability to reinvest in modern health premises in Surrey. It also ensures an important allocation of housing.”
joanna.bourke@estatesgazette.com
