York St John University has purchased Peppermill Court in York, a 24-bed adult patient assessment and treatment unit, owned by the NHS, in a £3 million+ sale.
Despite plans to develop a city centre-based campus and accommodation portfolio over a number of years, the university is to lease the property to the NHS to assist with extra capacity during the pandemic, to safeguard against the risk of hospital capacity shortages.
The university, home to around 7,000 students, had planned to use the property as a part of its strategic acquisition to develop a city-centre based campus, however plans have been pushed back in the fight against Covid-19.
Langleys Solicitors, a leading UK law firm with offices in Lincoln and York, acted on behalf of York St John University, performing full due diligence for the acquisition, drafting all legal documents including the contract, a transfer and an overage and clawback agreement.
The leading Yorkshire law firm also handled drafting and negotiation of the lease back to the NHS from the university, after it emerged that the additional capacity would be needed during the peak of COVID-19.
Tim Cross, managing partner at Langleys Solicitors, said: “We’re pleased to have acted on behalf of York St John University on this project, in such unusual circumstances. Despite the completion of the off-market sale it emerged that the additional capacity may be required by the hospital and therefore a bespoke agreement had to be created quickly. We hope to have done a small bit in the fight against Covid-19, and help the region cope with the outbreak that bit better. Long-term we also hope to see York St John University develop its city centre portfolio and attract a new generation of students and graduates to the area.”
Richard Hirst, head of strategic estate and property management at York St John University, said: “Before this period, we had envisaged that this site would house a small number of students with appropriate accommodation. However, as the coronavirus situation worsened, it soon became clear that the space could be put to better immediate use by leasing it back to the NHS, to help them support and care for those who needed treatment for the coronavirus here in York.”
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