330 Gray’s Inn Road, Kings Cross, City of London, WC1
330 Gray's Inn Road, Kings Cross, London, WC1
Address: 330 Gray's Inn Road, Kings Cross, London, WC1
Size: 1.5 acres
Client: Groveworld Ltd
Transaction: Purchase of redundant hospital buildings for redevelopment
BBG was selected by Groveworld Ltd to advise them through the bid process of this rare opportunity to buy a freehold, mixed use development site of 1.5 acres close to King’s Cross station. The vendor, The Royal Free Hospital Charitable Trust, had a very tight timetable for the sale process and, after two rounds of bidding, Groveworld was selected as the successful party at an agreed price of £55m. Six weeks of complex due diligence followed, but with the help of a strong professional team including BBG and solicitor’s, Freeman’s, Groveworld exchanged and completed within the eight week timetable set by the vendor. On completion of redevelopment, the site will support up to 300,000 sq.ft of new offices, hotel and a mix of private and public housing and GDV will be in excess of £300m.