Trust forms estates joint venture with private firm

Oxleas Foundation Trust, which manages multiple sites in south east London, has formed the Oxleas Property Partnership, a 50/50 joint venture with Health Innovation Partners Ltd, which is itself a joint venture between Arcadis and Community Solutions. The latter is part of Morgan Sindall investments.

The 10 year strategic estates partnership aims to get the NHS a better deal on using some of its land for private developments by making it a partner, rather than simply selling the estate and letting a private builder keep all the profits.

In a joint statement, the developers said: “The partnership will prioritise the development of surplus and disused NHS land at four key sites… This includes the redevelopment of 16 hectares at Queen Mary’s Hospital, Sidcup – land which has remained unused for over 20 years and identified as a priority for redevelopment by the Department of Health.

“The partnership will also enable the re-provision of primary care at a site in Plumstead, in the Royal Borough of Greenwich, and a number of other residential development opportunities.”