BioMed Realty is considering developing a life sciences hub in King’s Cross, N1.
The California-based firm, which supplies office space to healthcare companies, already owns 900,000 sq ft of laboratory and office space in Cambridge at the Babraham Research Campus.
It is now looking to break into the London market.
Colleen O’Connor, senior director, east coast and UK markets at BioMed Realty, said: “We keep our eyes open for any opportunities that come up through the brokerage community and we are meeting with those folks.
“We are currently the largest life science provider in the UK and having London as a base would be a natural progression; it is just a matter of finding a site. We always love to find opportunities to convert spaces.”
She added that the current political uncertainty would not be a deterrent. “Brexit wouldn’t delay us in any way; there is always a need for people to be healthy.”
Currently, one of the largest available development opportunities in King’s Cross is the 5.4-acre St Pancras Hospital site (pictured). Owner Camden and Islington NHS Foundation Trusts is looking for a development partner for the site, which it says could accommodate 760,000 sq ft of space in a mixed-use scheme.
The contract notice was published in July last year but it has not yet been awarded. The preferred tender was supposed to be finalised in July this year, according to the procurement schedule.
Blackstone bought BioMed Realty in 2016, in a deal valued at $8bn. The 18.9m sq ft portfolio deal encompassed markets including Boston, San Francisco and Seattle in the US as well as Cambridge in the UK.
Since then, life sciences research and development space has become increasingly recognised as a specific property type, alongside data centres and self-storage facilities.
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