The property company established by Darren Reiss, son of the founder of the eponymous fashion brand, is to develop a scheme of more than 100,000 sq ft in Kentish Town, NW5.
Augustus Land has bought JML House, which sits on an 0.5-acre site on Regis Road, for £8.8m from TV retail promotion company JML.
The 24,000 sq ft office building will be refurbished and a planning application for a broader scheme submitted.
Reiss said: “The Kentish cluster, which is a community of new and exciting businesses in the area, reminds me of Shoreditch’s rise from the mid-90s with its unique community and businesses from various sectors.”
In line with planning guidance, it will be “significant in both mass and design” and is likely to include retail. Regis Road is currently the only designated industrial area in the London borough of Camden.
Reiss founded Augustus Land in 2013 following a career in investment banking.
The company targets properties in or around central London and looks to take on planning risk. It buys sites that are distressed or under-performing and converts them to commercial or residential uses.
