Clearbell Capital is set to transform the building at 85 Gray’s Inn Road, WC1, in King’s Cross into a life sciences facility.
The company has secured £25m of senior financing from Starz Real Estate and has appointed Kastner, the laboratory fit-out arm of McFeggan Brown, as the main contractor.
Originally built in 1992, the newly refurbished building offers 30,000 sq ft of grade-A workspace. The scheme includes a reception area, a large secure inner courtyard for deliveries, a 1,100 sq ft landscaped roof terrace and new end-of-trip facilities across five floors.
The work, which is scheduled to commence this month, includes converting 10,260 sq ft of office space into lab-enabled space featuring chemical extraction, provision for fume cupboards, Vulcathene drainage, laboratory-grade vinyl flooring and an air control system capable of providing six air changes per hour.
Fitted labs are expected to be ready for occupation from Q2 this year.
Alice Murray, head of asset management and sustainability at Clearbell, said: “The life sciences sector is one of the most exciting growth areas in the UK, but there is still a chronic undersupply of flexible lab space to support this demand. That is why we saw the huge potential of 85 Gray’s Inn Road to bring more high-quality lab and office space to London’s Knowledge Quarter.”
Creative Places and Knight Frank have been appointed as leasing agents.
Clearbell Capital was advised by Brotherton, Creative Places, Travers Smith, Knight Frank and Hollis; Starz Real Estate was advised by Taylor Wessing, Fladgate and Appleby on the financing. Cushman & Wakefield provided valuation services.
Photo from Clearbell Capital
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