The owners of St Pancras Hospital in London – a prime five acre site behind St Pancras International Station and next to the ongoing regeneration at King’s Cross - have chosen a preferred development partner for the land.
The King’s Cross Central Limited Partnership (KCCLP) will undertake and oversee the development of the site. The Trust will remain a flagship presence on the site and will retain the freehold.
The Trust is planning to move its existing inpatient services from St Pancras to a site behind the Whittington Hospital but retain other clinics, offices and research facilities at St Pancras.
Revenue from the site, which was once home to the St Pancras Workhouse, will allow the Trust to reinvest the money in new clinical and healthcare facilities.
Angela McNab, Chief Executive of the Trust said: “The appointment of KCCLP is a huge and significant step forward and will enable the transformation of the Trust’s estate, helping to deliver our visionary Clinical Strategy, which aims to provide the very best mental health care across our inpatient and outpatient communities.
“It has been a rigorous process to identify the right partner for this hugely important part of the work, but we believe the choice of KCCLP will enable us to get the very best out of this site, including clinical services, commercial space and private and affordable homes.”
Robert Evans, partner of Argent and CEO of the King’s Cross Estate said “We are delighted to have been chosen as the Trust’s preferred development partner. We are hugely excited by the potential of our partnership with the Trust and others; the development potential of this site; and the potential synergies with our existing King’s Cross Estate.
Together, we can transform the St Pancras Hospital site into a wonderful place to work, live and visit: a vibrant location for healthcare, workplace, living space and leisure activities; all embedded with the heritage of the hospital and the landscape of the adjacent canal and gardens.”
Notes To Editors
About the Trust
Camden and Islington NHS Foundation Trust (C&I) is the largest provider of mental health and substance misuse services to people living within the London boroughs of Camden and Islington. We also offer substance misuse and psychological therapies services to residents in Kingston.
We have two inpatient facilities, at St Pancras Hospital and at Highgate Mental Health Centre, as well as community-based services at around 30 sites throughout our three boroughs.
Over the last year, we have seen continued success in delivering high quality services to our patients and carers and in February 2018, we were rated as ‘Good’ by the Care Quality Commission.
Our Trust is a member of University College London Partners (UCLP), one of the world’s leading academic health science partnerships, and through our work with UCL we continue to develop a strong reputation for supporting world-class quality research into mental health.
The King’s Cross Central Limited Partnership is made up of the Argent King’s Cross Limited Partnership (which brings together Argent, one of the UK’s best respected property developers and Hermes Investment Management on behalf of the BT Pension Scheme) and pension fund AustralianSuper
The King’s Cross Estate is one of the largest and most successful redevelopments in London. The 67-acre site has a rich history and a unique setting. What was once an underused industrial site is being transformed into a creative neighborhood of homes, shops, offices and workspaces, galleries, bars, restaurants, schools and a university.
AustralianSuper owns a majority stake in KCCLP. AustralianSuper manages AUD $140 billion of members’ retirement savings on behalf of almost 2.2 million members. It is a profit for member organisation. One in 10 working Australians is a member of AustralianSuper, the nation’s largest superannuation fund.
The BT Pension Scheme (BTPS) is the largest private-sector pension scheme in the UK. It has c.300,000 members and c.£50bn of assets and pays out over £2.5bn in pension and other payments every year.
Hermes Investment Management, a Federated Investors company, provides world-class active investment management and stewardship services. Hermes, headquartered in London, manages £35.8 billion in assets* and offers a broad range of specialist, high-conviction investment strategies spanning listed equities, credit, real estate, infrastructure, private debt and private equity. Hermes’ strategies focus not just on financial results, but also on delivering outcomes beyond performance: holistic returns that consider impacts to society, the environment and the wider world. In Hermes EOS, the company offers one of the industry’s leading engagement resources, representing £634 billion of assets. For more information, visit www.hermes-investment.com.
*Please note the total AUM figure includes £6.5bn of assets managed or under an advisory agreement by Hermes GPE LLP (“HGPE”), a joint venture between Hermes Fund Managers Limited ("HFM") HGPE Capital Limited and GPE Partner Limited. HGPE is an independent entity and not part of the Hermes group. £30m of total group AUM figure represents HFM mandates under advice.
Source: Hermes as at 30 September 2019
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