King’s Cross, London, N1

Purchased as a long-term project, this investment comprises 3 interconnecting buildings totalling 13,500 sqft of office accommodation. The property was purchased vacant and bordering on derelict. One of the buildings was comprehensively refurbished and let to a tech company while the other two were let to a charity in their existing condition. The tenants have another two years to go on their leases and a scheme is currently being worked on to create an additional 10,000 sqft of office space. The scheme, which is currently going through the planning process, will have a GDV of approximately £30m (the above photo is a CGI of this scheme). With this planning in hand, the site will be worth somewhere in the region of £15m, which represents a significant planning gain.

Purchase date

April 2014

Purchase price


Cost to date




Investor equity


Current value


Levered IRR


As at 31/12/2019