The restoration project started in September 1997 and once it was completed at the end of August 1998 we leased the building to the North East London Mental Health NHS Trust. More recently, the NHS Trust obtained planning approval to develop the Langthorne Hospital site for residential use, with the receipts from the sale of the site being allocated for a new clinical centre. We entered into a collaboration agreement, including our building as part of the site to be developed, and the building was subsequently sold.
To help fund the capital costs of the project a commercial mortgage was secured from the Co-operative Bank plc, which was offset by the rental income we received once the building was leased out. Following the sale of the building we used our share of sale proceeds repaying the bank loan and to help fund future projects. The project also received grant aid from English Heritage, the Heritage Lottery Fund (HLF), the London Borough of Waltham Forest, the Heritage of London Trust (HOLT) and the Architectural Heritage Fund (AHF).