NHS Property Services is pleased to announce the successful completion of the final phase of the Whitechapel Road land disposal, which sees Queen Mary University of London (QMUL) become the freehold owner of the whole Whitechapel Road site from the Department of Health and Social Care (DHSC).
QMUL has signed the agreement with the Department which will enable the University - working with partners from all sectors, including Barts Health NHS Trust, to deliver significantly greater life sciences capacity in East London driving better health outcomes for local people and for global communities.
The move follows the approval of a successful planning application process for 81,000m2 of specially designed life sciences buildings across the 5 site plots, led by NHSPS on behalf of the DHSC which will drive economic growth and attract inward investment to the local area.
Adrian Powell. Director of Investment & Development Management at NHSPS, said: “We’re delighted to have successfully delivered this project on behalf of the Department for Health and Social Care and in partnership with the Queen Mary University of London, Barts NHS Health Trust, the London Borough of Tower Hamlets, and other stakeholders.
“The proposals will unlock value and regenerate a series of outdated buildings and empty sites around the Royal London Hospital and Queen Mary University, creating a new home for life sciences in Whitechapel. The development will deliver a range of economic, health and social benefits for Tower Hamlets, including the creation of thousands of jobs, delivering a shared life sciences ambition as well as attracting major investment into the area.
“Consistent with our declared strategy, we continue to work with our partners to ensure that progress continues at pace to ensure the delivery of this long-held vision, rationalising the existing estate and optimising it for the health, education and wider communities who will benefit from it, both now and in the future.”
The proposed transformation of these five vacant sites has been developed over several years through extensive engagement with the local community. Creating this much-needed space will not only deliver a new home for life sciences but also deliver any benefits, including:
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Inclusive research that will focus on improving the health of people in Tower Hamlets and East London.
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A significant boost to the local economy with workers estimated to spend £7m to £10.1m per year alongside £7.5m per year generated in business rates.
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4,180 new jobs, apprenticeship and training opportunities for local people, crucial for supporting Tower Hamlets’ young and fast-growing population.
