Royal Papworth Hospital NHS Foundation Trust has today (Friday) announced that Global Healthcare Real Estate Ltd has won the bid to acquire the site of its former hospital in Papworth Everard.
Global Healthcare Real Estate Ltd, chaired by investor and entrepreneur Grace Bian, has bought the land to open a five-star health and wellness village comprising a country club and spa, convalescence and rehabilitation units, villas, and apartments.
The trust said it was 'unable' to say how much the firm had paid to acquire the site.
The 13-acre site's redevelopment follows the world renowned heart and lung hospital's move to the Cambridge Biomedical Campus earlier this year.
A Royal Papworth Hospital NHS Foundation Trust spokesman said: "The trust can confirm that the site is being sold to Global Healthcare Real Estate Ltd and we look forward to seeing the plans as they develop.
"We welcome the fact that the historic site is retaining its connections with healthcare through a health and wellness village."
Grace Bian, chairman of Global Healthcare Real Estate Ltd, said: "We are excited about the future prospects of the site and look forward to working closely with the local community."