A preferred purchaser for the current homes of Moorfields Eye Hospital and UCL Institute of Ophthalmology has been appointed, which the organisations said was a major step for Oriel.

Oriel is the project to build a new centre on the site of St Pancras Hospital to integrate services and will open in 2026 if approvals are granted.

Martin Kuper, chief executive of Moorfields Eye Hospital NHS Foundation Trust, said: ‘The sale of City Road Island is an essential part of our funding strategy for Oriel. All proceeds will be reinvested in the new centre to secure the long-term future of world-leading eye care, research and education in a way that represents value for money.’