Our commercial agency team have seen recent success selling Newholme Hospital, a historic 19th-century Derbyshire hospital building to a residential developer.
The hospital, which originated as a workhouse in 1841, is now being decommissioned by the NHS and has been sold by leading property consultancy Fisher German to an undisclosed residential developer.
The 19th-century Newholme Hospital building was earmarked for closure as not suitable for the delivery of modern healthcare, as agreed in the Better Care Closer to Home consultation led by NHS commissioners in 2017.
Our team acted on behalf of NHS Property Services Ltd to market Newholme Hospital after it became surplus to requirements following the announcement of a new £11 million NHS integrated health hub which is being constructed on land adjoining the site and is expected to open later this year.
Despite turbulent market conditions as a result of rising interest rates and the complexity of the site, including five Grade II listed buildings, we have now completed the sale. The hospital is expected to close when all current health services transfer into the new integrated health hub.
Newholme Hospital was marketed as a development opportunity, with the potential to transform the site, including its Grade II listed buildings, into residential accommodation. The developer will be revealing its proposed plans for the site in the coming months.
One of our partners and Head of Commercial Lease Advisory, Rupert Collis, said: “We are extremely pleased to complete the sale of Newholme Hospital on behalf of NHS Property Services Ltd.
“We worked closely with NHS Property Services throughout the process, as well as with its planning consultants Planning and Design Group, who produced an in-depth development brief which guides to support the redevelopment of Newholme Hospital and was then endorsed by the Peak District National Park Authority.
“This was a particularly challenging site due to the restrictions around the development of Grade II-listed buildings, but we secured a purchaser with a strong reputation in the industry. The deal also highlights the returning buyer confidence in the commercial development market now that interest rates have stabilised.
“The developer has not yet revealed its plans for the site, but we are confident that any proposed scheme will be highly positive for Bakewell. It would also sit alongside what will be a modern new NHS facility for those living in Bakewell and the surrounding area.”
Find out more about our lease advisory consultancy services.
