BlackRock Alternative Real Estate is joining forces with British Airways’ New Airways Pensions Scheme and Singaporean sovereign wealth fund GIC to develop Tribeca King’s Cross, a life sciences development being brought forward with Reef Group in London’s "Knowledge Quarter".
Tribeca King’s Cross is an 830,000-square-foot, purpose-built life sciences development in London with laboratories. It also proposes retail, restaurants and 69 apartments across five buildings, next to Regent’s Canal.
Paul Tebbit, head of EMEA and global chief executive of core real estate, Blackrock Alternatives Real Estate, said in a statement: “It is incredibly exciting to be involved in a development of this calibre, in the heart of London’s King’s Cross, which also harnesses state-of-the-art technology to aid decarbonisation efforts. This showcases the team’s ability to bring together significant development partnerships on behalf of our clients.”
Stewart Deering, chief executive at Reef Group, added: “Tribeca is set to be a fantastic new ecosystem, providing state of the art, purpose-built laboratories, in response to the growing demand for lab and workspace at the heart of the talent cluster. King’s Cross has undergone a complete transformation into a hub of innovation and creativity. This transaction will enable the delivery of this ambitious project and contribute to the dynamic life sciences sector in London.”
The first phase of development of Tribeca King’s Cross is already underway and is expected to complete in November 2023.