London office building to be transformed into life sciences hub following acquisition
A building in the heart of London’s Knowledge Quarter is set to become a life sciences hub after it was acquired by a joint venture.
The 76,000 sq ft office building at 105 Judd Street has been purchased by a joint venture between Montrose Land and AshbyCapital for an undisclosed sum.
The five-storey Edwardian building, immediately south of Kings Cross St Pancras, has been acquired for a comprehensive refurbishment to create a new office development primarily aimed at companies in the life sciences sector and knowledge economy.
Jonathan Mantovani, director of Montrose Land, commented: “The acquisition 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, added: “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.”
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