Newly Refurbished Knowledge Quarter Freehold for Sale 2 Investment Summary 3
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275 Gray’s Inn Road, King’s Cross, London WC1 Newly Refurbished Knowledge Quarter Freehold for Sale 2 Investment Summary 3 Newly refurbished office and Approximately 250 metres Benefitting from the In the heart of the Knowledge 13,263 sq ft total floor area Freehold retail property completed from the excellent transport substantial regeneration Quarter, one of the premier arranged over lower ground, by Bywater Properties. links at King’s Cross and of the local area, led by the knowledge clusters anywhere ground and four upper floors. St Pancras International 67 acre mixed use in the world. stations. King’s Cross Estate. 11,097 sq ft of Grade A office Contemporary specification 1,874 sq ft of prime retail Opportunity to capture accommodation recently including exposed services accommodation let to the increased occupational refurbished to a Category and suspended LED lighting Co-operative Group Food Ltd demand in the location from Offers are invited in excess A+ condition, including data with new end of commute until 24th July 2024 at £67,223 a broad range of sectors cabling to the risers and fitted facilities. p.a. (£35.87 per sq ft). including technology, media of £10 million for the kitchenettes on each floor. and life sciences. freehold interest, subject to contract and exclusive of VAT, reflecting a low capital value of just £754 per square foot overall 4 Wellcome The Doctors Euston Digital The Standard British Merck Francis King’s Cross Google UK Google / Universal Havas Trust Laboratory Station Catapult Hotel Library (proposed) Crick St Pancras Station Campus Youtube Music Institute (under construction) Aerial photo Location 8 King’s Cross Estate 29 20 33 18 275 Gray’s Inn Road is located within the vibrant 19 17 and evolving neighbourhood of King’s Cross. With Eurostar services from St Pancras International, the 7 32 area is regarded as the gateway to Europe and as such has undergone one of the most substantial 11 and transformative regeneration projects in 9 12 YORK WAY Central London, the King’s Cross Estate. The estate 5 6 comprises 67 acres estate that, once completed, 7 CALEDONIAN ROAD M will feature 50 new and restored buildings, close IN U 14 4 T to 1,700 new homes, 20 new streets, 10 new public E parks and squares, 26 acres of public open space ST PANCRAS INT. 16 S and 1 kilometre of canalside. KING’S CROSS 1 The area has attracted occupiers from a diverse 28 27 range of sectors. A number of leading global 26 PENTONVILLE ROAD businesses have all chosen to locate in King’s 13 3 Cross including Google, Guardian News & 2 Media, Facebook, Havas, Merck, Universal Music 31 and YouTube. The area has also witnessed a 10 EUSTON corresponding significant increase in the retail 24 15 25 offer and amenity provision, attracting brands 21 such as Caravan, Fortnum & Mason and The 22 Standard hotel. 30 3 GRAY’S INN ROAD EUSTON ROAD M I As a result, King’s Cross has become one of N U T 23 London’s most sought after places to live and work E S and one of London’s key transport hubs. N Not to scale. For identification purposes only. Local Occupiers Bars/Restaurants Hotel/Leisure 1 The Francis Crick Institute 13 Camino 24 St Pancras Renaissance Hotel 2 Vevo 14 Vinoteca 25 The Standard London 3 The Office Group 15 The Gilbert Scott 26 Great Northern Hotel 4 Arcadis 16 German Gymnasium 27 Anytime Fitness 5 Youtube 17 The Lighterman 28 Urban Kings Gym 6 Google 18 Granary Square Brasserie 7 The Guardian 19 Caravan Culture 8 Facebook (under construction) 20 Dishoom 9 Universal Music 21 Isla 29 Platform Theatre 10 Merck (proposed) 22 The Dolphin 30 Shaw Theatre 11 Havas 23 Lucas Arms 31 British Library 12 Intercept Pharmaceutical 32 London Canal Museum 33 Theatro Technis 6 The Knowledge Quarter WLEDGE QUART KNO ER The one-mile radius around King’s Cross railway station contains one of the highest densities of Global Generation Islington Council knowledge based businesses and institutions in King’s Cross Estate the world. The Knowledge Quarter is a consortium of over 100 academic, cultural, research, scientific In2scienceUK and media organisations, large and small, with one Royal Veterinary College Art Fund Aga Khan University principle commonality: they are actively engaged in advancing and disseminating knowledge. The area is already home to the British Library, Universal Music Central Saint Martins the Wellcome Trust, the Alan Turing Institute, the Briffa Francis Crick Institute, the University of the Arts Google Bio Nano Consulting London Central St Martins and the Wiener Library ANGEL amongst other educational facilities. This access Crafts Council to knowledge has been a key factor in attracting ST PANCRAS INT. many global businesses to the area. KING’S CROSS The Knowledge Quarter continues to attract Francis Crick Institute Université Paris-Dauphine significant investment and talent, including a commitment by US pharmaceutical group Merck EUSTON EIT Digital to occupy a new bespoke research hub opposite Sadler’s Wells the station, as well as a major extension to the British Library British Library backed by Mitsui Fudosan to include a new headquarters for the Alan Turing Institute, the UK’s National Institute for Data Science, both due to open in 2025. The Doctors Laboratory Royal College of Physicians Wellcome Trust British Medical Association The Reading Agency UCL The Physiological Society University College London The Weiner Library ARUP The Society of Authors The British Museum N Not to scale. For identification purposes only. This area of Central London continues 8 Local Developments to undergo significant enhancement Communications through several current and proposed developments, endorsed by the quality and quantum of occupiers relocating here. 275 Gray’s Inn Road is located just 3 minutes’ walk from King’s 0 Travel distance (minutes) Cross and St Pancras International stations which offer access National Rail London Underground to six London Underground lines (Victoria, Piccadilly, Northern, Elizabeth Line Hammersmith & City, Circle and Metropolitan), Mainline Rail Eurostar and Eurostar services to mainland Europe. In addition, Gatwick Express Heathrow Express King’s Cross is just one Underground stop from London’s newest major infrastructure project – the Elizabeth Line (Crossrail) – at Farringdon. 256 Gray’s Inn Road, WC1 Belgrove House, Euston Road, WC1 Developer Developer University College London Precis Group KING’S CROSS Architect Architect PADDINGTON EUSTON ST PANCRAS INT. OLD STREET Hawkins Brown Allford Hall Monaghan Morris (AHMM) 10 1 3min walk 1 Scheme Scheme 348,500 sq ft medical research and educational facility 270,000 sq ft bespoke offices and laboratories pre-let to TOTTENHAM for UCL Neuroscience MSD (Merck & Co Inc.) as their UK HQ BOND STREET OXFORD CIRC. COURT RD FARRINGDON LIVERPOOL ST WHITECHAPEL 9 4 10 2 7 14 Status Status Planning permission granted February 2020, scheme due Planning permission granted February 2021, scheme due PICCADILLY for completion in 2024 for completion in 2024 GREEN PARK CIRCUS 6 13 ST PANCRAS INT. HEATHROW VICTORIA WESTMINSTER CALEDONIAN ROAD 31 7 13 KING’S CROSS LONDON PENTONVILLE ROAD WATERLOO BRIDGE CANARY WHARF 14 9 21 330 Grays Inn Road GATWICK 29 Belgrove House ARGYLE STREET GRAY’S INN ROAD 330 Gray’s Inn Road, WC1 EUSTON ROAD Developer Groveworld King’s Cross station provides fast, direct services to Cambridge. Cambridge has long been an established global centre for science Architect 256 Grays Inn Road Allford Hall Monaghan Morris (AHMM) and innovation, built on strong links between industry and world class academia. This has made the area around King’s Cross a Scheme natural choice for those from the sector seeking a London location, 143,000 sq ft of lab-enabled offices, 76 apartments and a 182 key hotel and indeed a driving force behind the Knowledge Quarter itself. Not to scale. For identification purposes only. Status Planning application submitted in August 2020 Description 9 275 Gray’s Inn Road has recently undergone refurbishment to provide 13,263 sq ft total floor area arranged over lower ground, ground and four upper floors. This comprises 11,389 sq ft of Grade A office and ancillary accommodation in addition to a prominent 1,874 sq ft ground floor retail unit. The offices benefit from excellent natural light and have been completed to a contemporary Category A+ condition including data cabling to risers and pre-installed kitchenettes on each floor. The refurbishment also included the installation of new end of commute facilities including bicycle racks (accessed via a secondary entrance adjacent to reception), showers and lockers. Specification Contemporary Passenger lift finishes Exposed waffle 24 secure slab ceilings bicycle spaces Exposed air Data cabling conditioning to risers The refurbishment of 275 Gray’s Inn Road caused only 57 Fitted kitchenette Solar panels kilograms of carbon emissions per square metre – well below the on each floor 500 kilograms per square metre RIBA 2030 target Excellent natural WCs on each floor light Suspended LED EPC B (44) lighting Metal tile Showers and lockers raised floor Developer Founded in 2006, Bywater is a privately owned property company with a core focus on sustainability and community. Bywater is currently undertaking refurbishments and new development across the UK with schemes in Belfast, Manchester, Liverpool and Glasgow as well as a significant presence in London including the capital’s first whole-life carbon neutral development, Paradise in Vauxhall. Office Core 10 Accommodation Floorplans Retail Bike storage Reception The property has been measured by Lane & Frankham in accordance with the Typical Upper Floor RICS Code of Measuring Practice (6th Edition) as set out below. Schedule of Areas Ground Floor Floor Use Area (sq ft) Area (sq m) 4 Office 2,141 198.9 3 Office 2,314 215.0 2 Office 2,316 215.2 1 Office 2,307 214.3 Lower Ground Floor Ground Reception 292 27.1 Ground Retail 1,874 174.1 BIKE STORE Lower Office 2,019 187.6 Ground Total 13,263 1,232.2 Offices: NIA; Retail: GIA (including WC) | Not to scale.