Investment adviser Delancey has secured a resolution to grant planning to develop a ground up, best-in-class 200,000 sq. ft GIA commercial building with the capability for office, laboratory and research space.
In a planning committee meeting on Monday, Islington Council gave Delancey the green light to transform the site, with 130,000 sq. ft of research and laboratory space. The scheme also features 13,000 sq. ft of affordable workspace, events space, flexible makers’ space, and significant public realm enhancements.
Situated in London’s growing Knowledge Quarter and Innovation District, the plans respond to an increased level of occupational demand for prime workspace and the critical forecast undersupply of such space in the capital.
The building has been designed by leading architects Kohn Pederson Fox (KPF) and the forward-thinking design approach extends the building’s lifecycle by including options to alter the proportion of laboratory and office space over time, allowing it to adapt to changing market demand.
Passive and active strategies have also been taken to reduce the whole life carbon, including an all-electric MEP strategy, roof mounted solar PV, and optimised external shading to reduce operational energy, and careful material selection and structural efficiencies to reduce embodied carbon. The development is targeting Nabers 4.5+ Stars and the office space will be BREEAM Outstanding.
Following the acquisition of an interest in the site in Q2 2022, Delancey subsequently acquired adjoining land from Islington Council, allowing the development to come forward. Since then, the firm has been engaging with communities and stakeholders, with three public consultations conducted over the past year.
Nathan Watt, Development Director at Delancey said:
“We are delighted to have secured resolution to grant planning unanimously for this progressive, innovatively designed development that offers cutting-edge sustainable facilities. The project will deliver dramatic public realm improvements and provide much needed office, science and technology workspace.
“The development will have broad appeal, bolstering the forecast undersupply in London’s Knowledge Quarter and activate York Way to become a major focal point for this part of London”.
Dan Dawe, Director of Investment at Delancey, said:
Following a process of strategic land assembly, innovative design, and successfully securing planning, we are excited to be in a position to bring forward critical Grade A commercial workspace in King’s Cross. This is an important response to the structural supply shortage of prime commercial office space forecast to be delivered between 2027 and 2029 in London. We are confident that our progressive and beautiful design will appeal to a wide audience, who are targeting the best space in the capital”.
Global real estate advisor, CBRE, has provided strategic advice on the site.
