Scarborough Group International has bought the Old Medical School from Leeds Teaching Hospital NHS Trust.
The developer expects to invest around £30m transforming the 75,000 sq ft building into a health-tech innovation hub.
The group was selected as the preferred bidder for the property by Leeds Teaching Hospitals NHS Trust in May 2024 and since then has been operating under an exclusivity agreement to develop plans to transform the building.
Scarborough said the property would be designed to support health-tech innovation activity and feature co-working spaces, meeting rooms, event areas, offices and laboratories. It will form part of the wider 2.2m sq ft innovation village around Leeds General Infirmary.
Scarborough chief executive Simon McCabe said: “This is an exciting time for SGI as we further strengthen our commitment to the UK’s life sciences sector, supporting the government’s vision of building a world-leading healthcare system and life sciences hub. The sector holds enormous potential to drive economic growth and significantly improve health outcomes for thousands of people across the UK and we are proud to contribute to this transformative impact.”
Phil Wood, chief executive at Leeds Teaching Hospitals NHS Trust, added: “This grand, historic building will be transformed into a leading health-tech innovation hub that Leeds will be very proud of. It is an exciting element of wider plans in this part of the city to create an innovation village that will transform health and life science-led development, as well as complementing the building of a new state-of-the-art hospital on the Leeds General Infirmary site.”
Fox Lloyd Jones advised Leeds Teaching Hospitals NHS Trust on the deal.
Image from Leeds Teaching Hospitals NHS Trust
Send feedback to Samantha McClary
Follow Estates Gazette
