University College London has purchased the Eastman Dental Hospital on Gray’s Inn Road, WC1, from the University College London Hospitals NHS Foundation Trust.
UCL will redevelop the building, acquired for an undisclosed sum, to house the Institute of Neurology – currently at Queen Square House – and a new UK Dementia Research Institute, due to complete in 2023.
UCLH will use proceeds from the sale for the development of an ear, nose, throat and dental facility on Huntley Street, which is under construction.
It will become the new home for the Eastman Dental Hospital and the Royal National Ear Nose and Throat Hospital when it completes next year.
Marcel Levi, chief executive of UCLH, said: “This is fantastic news. The proceeds from the sale will make a significant contribution to the costs of the new facility on Huntley Street, providing our world-leading dental and ear, nose and throat specialists with a world-class building.
“It is also great that the current EDH site will remain within the wider UCL/UCLH family and that the Queen Square House site will remain available for future expansion of clinical neurology and research.”
CBRE and DAC Beachroft advised UCLH. Deloitte Real Estate and Berwin Leighton Paisner advised UCL.
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