A medical university has been forced to sell a former Middlesex University site it bought for £30 million last year.

Malaysia’s Allianze University College of Medical Sciences (AUCMS) bought the former Trent Park Campus, in Snakes Lane, Southgate, in August 2013, in order to create a medical university hub in London.

However, the private university based in Panang, Malaysia has been forced to sell the site after encountering financial problems.

The campus includes a mansion that is a listed building. This means that any alterations must be approved by the local authority, making it expensive to renovate.

Dr Zainuddin Wazir, President of AUCMS revealed in a statement that the purchase was facilitated by EXIM Bank Malaysia but the college was only given part of the total sum which was approved.

He also stated that the failure to get the full sum meant that the campus could not function as planned and resulted in “a serious financial crisis" for the college.

Peter Gibbs, head of the Enfield Parks consortium, believes any investor will need several million pounds to renovate the site.

He said: “The campus was sold at a ridiculously high price with many issues and that is something AUCMS have struggled to cope with.

“We are very concerned that the listed building and surrounding buildings have been left to ruin and it will take a few million at least to restore what should be a beautiful site.”

Mr Gibbs also told the Enfield Independent at the levels of frustration surrounding the site and the lack of communication between AUCMS and the parks group.

He said: “We have not been informed of anything that AUCMS has done and security has been aggressive towards many users of the park who have come close to their site.

“But we can now be positive and hope that a proper owner can be found to restore this jewel of a park.”

The site has been on sale July and the university has been given six months to sell off the Trent Park campus to help solve its financial problems.