A £750 million commercial development on the former site of Middlesex hospital is to be developed by Aviva Investors and Exemplar Properties.
The firms will be collaborating with the committee managing the assets of Kaupthing Bank, which own the site.
It was planned that the space, in London’s Fitzrovia, was to be incorporated into an upmarket scheme, according to The Independent. However, plans were aborted after the collapse of Kaupthing Bank.
The University College London Hospital had applied for permission to build on a nearby site, where the last remaining edifice is an old Georgian work house. Houses, shops and Euston office space may be constructed.
A spokesman said: “The site has been identified for redevelopment for a long time now, to provide affordable housing as required through the Trust’s Section 106 obligations. Affordable housing south of the Euston Road is very scarce, and the Trust has focused on the long-term, designing a high-quality mixed-use scheme which delivers over 50 per cent by area as affordable housing”.