Montrose Land and AshbyCapital Acquire Development Opportunity in London’s Knowledge Quarter
Joint venture buys 105 Judd Street, WC1, for major refurbishment
A joint venture between Montrose Land and AshbyCapital has acquired a 76,000-sq-ft office building at 105 Judd St, WC1, in the heart of London’s Knowledge Quarter.
The five-storey Edwardian building, immediately south of Kings Cross St Pancras, has been acquired for a comprehensive refurbishment to create an innovative office development primarily aimed at companies in the life sciences sector and knowledge economy.
The building is being sold by the Royal National Institute of Blind People (RNIB), as part of a modernisation programme for the charity. The RNIB will remain in the building for approximately two years, while the joint venture draws up proposals for the refurbishment and secures planning consent. The purchase price has not been disclosed.
Jonathan Mantovani, Director of Montrose Land, said:
“The acquision of 105 Judd Street offers a rare opportunity for the creative re-use of a well-located asset in a thriving area, through substantial refurbishment. With our joint-venture partner AshbyCapital we aim to deliver a well-connected, sustainable and healthy building, suited to the burgeoning life sciences sector within the Knowledge Quarter.”
Peter Ferrari, Chief Executive of AshbyCapital, said:
“We focus on investing in high-quality buildings in areas with strong long-term prospects and this is no exception. We anticipate that the areas around major mainline train stations will become more popular following the pandemic, and expect the life sciences sector, for which collaboration is particularly vital, to become a growing component of London’s occupier mix. We’re looking forward to combining our expertise with that of the developer team to create a world-class building that meets occupiers’ subtly changing needs.”
London’s Knowledge Quarter is the focal point for a science, technology, and education cluster around Kings Cross. The area has become a hub for the rapidly growing life sciences sector and is built on collaborations between corporates, universities and research institutes. These organisations include Wellcome, UCL, Francis Crick Institute, the British Library, the Alan Turing Institute and the British Medical Association. Google and Facebook’s UK headquarters are also nearby.
The area benefits from the best connectivity in London with three mainline stations providing direct links to Cambridge and other European cities, as well as six London Underground lines.
105 Judd Street is well positioned to contribute positively to this unique blend of transport links, knowledge occupiers, and major corporates.
Corbett Northam represented the RNIB.
Cushman & Wakefield and Knight Frank represented Montrose Land and AshbyCapital.