This new 39,500m² integrated centre will be constructed at the site of the erstwhile St Pancras Hospital.
It is a joint initiative of Moorfields Eye Hospital NHS Foundation Trust, the UCL Institute of Ophthalmology and Moorfields Eye Charity.
Construction will commence in 2023.
Camden Council granted full planning approval for the centre in August.
Bouygues UK, the preferred contractor for the Oriel project, has created a full construction programme with the building slated to open in 2027.
Moorfields chief executive Martin Kuper said: “This is the final approval we have been waiting for, turning Oriel from a proposal into a reality.
“Our next step will be to start construction work in the new year to build our world-leading centre, which will support our reputation for excellence and our ability to deliver outstanding care for our patients.”
UCL president & provost Dr Michael Spence AC said: “This decision is a vital step forward for an incredibly exciting project that will bring together UCL’s formidable research base with Moorfields’ world-class healthcare delivery in a way that results in major academic and clinical benefits for people living with sight loss throughout the UK and across the world.”
Besides being located in the heart of the science and innovation hub Knowledge Quarter, the new centre will also be close to the UCL Bloomsbury campus.
Image: Illustration of the new 39,500m² integrated centre. Credit: Oriel.