BIDS have been received for the Middlesbrough General Hospital and North Riding Infirmary sites, which were marketed by Lamb and Edge for the South Tees Hospital NHS Trust.
The hospitals will be moving into the new, purpose built James Cook Hospital in 2003, bringing the Trust's resources together on one site.
The 100-year-old Middlesbrough General Hospital stands in over 19 acres of grounds in Linthorpe Road.
Mike Cuthbertson of Lamb and Edge has been encouraged by the level of interest shown by developers.
He said: "It is rare that a town centre site of this size comes to the market.
"The Local Plan allows for residential development here, and the extent of the grounds provide superb potential for developers.
"Its future use could have a significant impact on the regeneration of Middlesbrough. It is a brownfield opportunity which the Government is actively encouraging" said Mike Cuthbertson."
The North Riding Infirmary, close to Sainsbury's supermarket in Middlesbrough town centre is set in 1.85 acres. The site is identified in the Local Plan for office, retail, leisure or residential use.
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