Description

Opportunity to acquire a prime freehold site in central London with strong potential for alternative uses.

Freehold redevelopment opportunity.
Strategic central London location, benefiting from excellent connectivity with Chancery Lane, Farringdon and King’s Cross St Pancras
stations all within close proximity.
Highly prominent site extending to approximately 0.5 acres (0.2 hectares).
The site benefits from a planning consent for a new build office-led development comprising 66,748 sq ft NIA of office space, 1,668 sq ft NIA of retail and 15 residential units.
Consent secures baseline massing with potential for further optimisation.
Suitable for a range of alternative uses including hotel, Co-Living or PBSA subject to planning.
Benefits from positive discussions with senior Camden officers regarding a bed-led strategy.
AHMM has undertaken a range of alternative use feasibility studies demonstrating the potential to deliver up to 350 rooms on site.
Offered with vacant possession.

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Attributes

Land area gross

0.2 ha

Tenure

Freehold

Keys

350

Investment strategy

Value Add

Tenants

Vacant Possession

Media

Investment Highlights

The site historically comprised a collection of interconnected warehouse, office and retail buildings extending between Gray’s Inn Road and Mount Pleasant, including Panther House, the central ‘Brain Yard’ building and a frontage terrace at 156–164 Gray’s Inn Road.

The site has since undergone substantial demolition and redevelopment works. The majority of the existing buildings have been removed, with elements of structural frame and basement works completed, and retained façade sections and warehouse elevations propped to allow for redevelopment. The retained fabric primarily relates to the historic warehouse façades at Panther House and selected elements along Gray’s Inn Road, preserving aspects of the site’s original character within the emerging scheme.

The site benefits from planning permission under reference number 2019/4478/P for the ‘demolition of buildings at 156-164 Gray’s Inn Road, the construction of a new mixed-use infill development comprising 15 new residential units, retail accommodation and new office space’. There has been positive pre-application engagement with senior Camden planning officers, who have expressed support for a bed-led strategy in principle.