It will deliver 872,000 sq ft (GIA) (655,000 sq ft NIA) of new accommodation across five buildings on a 2.8 acres site formerly occupied by a series of redundant 1960’s office buildings.
The development sits within London’s Knowledge Quarter which has one of the densest concentrations of scientific knowledge-based organisations anywhere in the world. Alongside life sciences, other uses will include commercial office, residential, retail and charitable community space. The scheme will also deliver new public realm as well as pedestrian and cycle footbridge over the canal, improving connectivity with King’s Cross Central.
BlackRock Real Assets and Reef Group are appointed as the Asset Manager and Development Manager to deliver the Business Plan.
What was our approach?
Our approach throughout is to provide independent advice and direction to the funders to ensure their interests are protected throughout the development.
Our services include pre-construction and construction advice across the enabling, demolition and new build phases.
We are monitoring all primary project disciplines from programme, cost, design and specification, and health and safety, to ESG, governance, risk management, cashflow and statutory and third-party matters.
Key to our approach is maintaining an open dialogue with the development manager and other key stakeholders to build trust and identify risk to ensure matters are addressed promptly and in an open forum, whilst preserving the interests of our client.
Results achieved & added value
The scheme is split into three phases of development. BNP Paribas Real Estate was initially appointed in 2020 to monitor Phase 1 (‘Apex’). On the strength and success of the relationship established, we have now been retained to monitor Phase 2a and 2b which takes the project through to Q4 2025.
The development funding structure has also changed, and our remit now extends from one funding party to two. Our services have also been expanded to enhance our oversight of the development appraisal, business plan and reporting procedures.
