Agents have put a development site up for sale in Camden, NW1, with potential for a life sciences or office-led scheme.
Offers of around £50m are being sought for the freehold to Camden Point, a 1960s office block fully let to British Transport Police until late 2024.
The half-acre island site is near Camden Town and just north of London’s Knowledge Quarter. The seller wished to remain unnamed.
The existing building contains about 40,000 sq ft of office space, arranged over a basement, ground floor and six upper floors.
However, architects have designed a proposed redevelopment containing up to 125,000 sq ft of offices across a basement, ground and nine upper floors.
This could be used either for conventional offices or for a life sciences-oriented occupier, according to marketing documents.
Alastair Perks, head of commercial development at CBRE, joint agent on the sale along with WH Baker, said: “HQ-scale development opportunities in well-connected London locations are always sought-after.”
“However, we’re particularly excited by the potential that Camden Point offers, being located on the border of the booming Knowledge Quarter, and only moments from Camden Town’s rich culinary and cultural amenities.”
The launch comes amid a post-pandemic dash for eco-friendly, high-quality workplaces, which has pushed rents for the best offices in central London to record highs.
Prime office rents in the West End and the Square Mile have risen to £117.50 per sq ft and £75 per sq ft respectively, as occupiers jostle for space that meets their sustainability criteria, according to Knight Frank.
To send feedback, e-mail alex.daniel@eg.co.uk or tweet @alexmdaniel or @EGPropertyNews
