City Road Island site will be overhauled once eye hospital moves to new location at Camden in 2027
London developer Derwent has teamed up with Related Argent to develop a City fringe plot which includes the Moorfields Eye Hospital.
Derwent has been involved with the scheme for nearly four years and appointed AHMM to come up with a masterplan for the site, previously known as City Road Island but which has been renamed Old Street Quarter.
Moorfields is moving to an eye care, research and education centre called Oriel in Camden’s Knowledge Quarter.
The £300m scheme is being built by Bouygues and had been due to open in the second half of next year but is now scheduled to finish in 2027.
In an update this morning, Derwent said it expects to acquire the Moorfields plot and surrounds “in late-2027”.
It had initially been set to be developed as a site for tech firms but in the update Derwent said: “A range of uses is being appraised, including residential, co-living, student accommodation, office and hotel.”
The current Moorfields site at 162 City Road, close to Old Street tube station, has been a hospital since 1899.
Set up in 2015, Related Argent is a joint venture between US firm Related Companies and Argent. Argent formally merged with Related Argent two years ago.
No comments yet