Anthology has bought a residential development site in Lambeth from the South London and Maudsley NHS Foundation Trust after a competitive bidding process.
The 1.75 acre site is located between Elephant & Castle and Kennington and is home to the vacant Woodlands House nursing home and Masters House - a grade II listed building let to the Cinema Museum.
Dr Matthew Patrick, chief executive at the foundation trust, said Anthology’s bid was not the highest in financial terms but included a commitment to secure a future for the Cinema Museum and fulfilled an NHS requirement to seek fair value.
Patrick said: “The sale of the site to Anthology is a positive outcome which will support the sustainability of the local NHS by releasing investment for front line mental health services at a time when public sector finances are stretched. It also supports the future of the Cinema Museum and its important collection.”
Adam Gaymer, executive director at Anthology, said: “We recognise that this space is highly regarded by the local community and we are keen to work with The Cinema Museum to ensure their long-term existence.”
Andrew Cox, Savills development director, who marketed the Woodlands site on behalf of the NHS, said: “This is a premium site in a zone one location. We saw good interest from national housebuilders, international investors as well as London student and residential developers. Safeguarding the Cinema Museum was a top priority for our client and we are delighted that Anthology has already started a dialogue to this end.”