Carter Jonas act as property adviser to Oxford University Hospitals NHS Foundation Trust, who deliver services from three Oxford-based sites and one regional hospital site across an 180-acre estate plus various satellite facilities in neighbouring counties.
At the Trust’s Churchill hospital site, we completed a disposal of four development plots (10 acres) to the University of Oxford who purchased the land to complement their adjacent Old Road Campus comprising existing R&D space, offices and a multi storey car park. The land transaction allows the University additional development capacity near its existing holdings and with immediate proximity to the renowned Churchill hospital and its world leading clinical specialities.
In advising the NHS Trust on this transaction, our specialists carried out a rigorous negotiation process with the University. The land value was considered in the context of agreed development capacity and use and driven by building massing and site distribution which was established under the draft master plan.
Overage terms were also agreed and, following agreement of price and other terms, the Trust was supported by Carter Jonas through internal and external governance processes. For example, we engaged with NHSI to provide necessary assurance as to value for money.
The Trust and the University will now work closely together in the development of the next stage of the master plan covering the wider Churchill hospital site, where there are significant development land opportunities still to capitalise on.