18 & 20 Tileyard Road
Identifying A Compelling Opportunity
Size
70,000 sq ft
Address
18 & 20 Tileyard Road, King’s Cross N7
Timing
Sold
Sitting just north of Regent’s Canal, in a former light industrial estate, Tileyard Road is now home to recording studios, music businesses and creative agencies. Number 18, a 20,000 sq ft warehouse-style office building, was acquired in 2021 with two years income remaining. Number 20, a 15,000 sq ft industrial building with income for 18 months, was acquired in 2022. Together, they created a significant development opportunity.
Over a 12-month period, Sterling undertook extensive studies with Stiff + Trevillion Architects, HTS, DP9 and Point 2 to evaluate various options for the combined site, including office or industrial uses. Significantly, Tileyard Road sits in the Knowledge Quarter, one of London’s seven life science clusters. This consortium of over 100 academic, research and scientific organisations is clustered within one mile of the British Library, and includes The Crick Institute, University College London and the Royal Veterinary College. Additionally, Life Science REIT had taken ownership of the nearby Rolling Stock Yard and planning permission had been obtained for a life science development on Brandon Road, which runs parallel to Tileyard Road.
After identifying clear signals of the direction in which this part of King’s Cross was moving, Sterling determined that life sciences was the most compelling and commercially viable route forward. Sterling positioned the combined site for sale within this sector and it was successfully sold off-market to a life sciences organisation in 2022.
