Acting on behalf of NHS Property Services (NHSPS), the Residential Land team of global property consultancy Knight Frank has disposed of Hawks Road Health Clinic to London Square, a £50 million GDV development opportunity located in Kingston, South-West London.
The 100 per cent affordable scheme, developed on the former Hawks Road Health Clinic site in Kingston upon Thames, will provide 44 apartments to be rented at London Affordable Rent levels and 81 apartments for shared ownership.
Kingston and Norbiton train stations are within walking distance of the site, offering 30-minute journeys into London Waterloo.
Nick Alderman, a partner in the Residential Land team at Knight Frank, said: “This is an exciting development opportunity which will enhance the regeneration of this area of Kingston. As a 100 per cent affordable development, it provides much-needed housing to the borough. We are delighted to have disposed of it on behalf of our client NHSPS.”
Dan Hotson, transaction management partner at NHSPScommented: “Not only has the sale of this surplus property generated significant capital receipts for reinvestment in the NHS, it also means an empty site can be brought back into use to provide much-needed new homes in London.”
Adam Lawrence, chief executive of London Square, concluded: “Our new partnership with long-term investor PIC is excellent news for London Square and Square Roots, enabling us to deliver another 100 per cent affordable scheme, making an important contribution to the housing shortage and creating homes and communities of the highest quality in a well-connected location where people will choose to live. The scheme will also support the local economy in Kingston, with the creation of jobs during the construction phase and opportunities for apprenticeships and local suppliers.”
Picture by JRA 30 and NHSPS
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