COMMERCIAL: Northumberland Tyne and Wear Foundation Trust has sold land at its Northgate Hospital site for a net £13.7m to housing developers
Taylor Wimpey plans to build of residential housing on the site. The first instalment was paid on completion of the contract and the second will be settled in December.
Trust chief executive John Lawlor said: “The cash from the asset sale is being used to support the funding of the trust’s capital programme.”
Meanwhile, the trust has been given a £10m loan by the independent trust finance facility to fund services for a new autism unit at Northgate Hospital.