November 2010

Record broken for a freehold office sale in King’s Cross, WC1

 When Monmouth Dean’s client, an independent property investor, asked them to find an occupier for their exciting new refurbishment of the former fire station in Leeke Street, King’s Cross, WC1, they were expecting to let the building on a standard lease. However, they became aware that The Paul Hamlyn Foundation had been combing the market looking for their own freehold building to purchase. Whilst Leeke Street wasn’t really for sale, Monmouth Dean were able negotiate a price in excess of £600 per sq ft, breaking all local records. Partner Jason Hanley commented “We were aware that we had a very special building to let. The fact that it was a converted fire station, offered high ceilings and plenty of volume and light meant we were confident that a number of creative occupiers would be interested.” He added, “in fact, we had a number of parties chasing the space and plenty of bids on the table. We were absolutely delighted to achieve a the record breaking sale price for the King’s Cross area.”