Case study - The Euston Estate
Secure long-term income
We assembled the Euston Estate portfolio during 2004 and 2005 on behalf of investors. The investment was let to blue chip/government backed tenants, generating secure, long-term income.
Euston station was already the UK’s sixth busiest rail station and the southern terminus of the busiest passenger route in Europe. We identified the site as an improving office location with forecast rental growth plus untapped development potential.
Euston. A future super hub
Following our acquisition, Network Rail announced radical plans to modernise the station calling it a “catalyst for regeneration”.
In 2010 UK government selected Euston to be the UK’s first High Speed Rail terminus (HS2). HS2 was the largest infrastructure project in Europe.
“Euston will become the gateway for high speed rail to the West Midlands and the North, becoming a landmark station like King’s Cross St Pancras.” HS2 Limited
A Crossrail 2 ‘megastation’ : ‘Euston St. Pancras’ was also proposed for the site.
In 2017, UK government acquired the Euston Estate.
The properties were acquired by compulsory purchase order in connection with HS2. Demolition works commenced in 2019 to make way for the new high speed rail terminus (HS2).
During our 13 year period of ownership rents had increased by X% and the site had become widely recognised as one of London’s greatest regeneration opportunities.
The Euston Estate properties were the gateway to the development site.
The CPO was widely reported as the highest value compulsory acquisition in UK history.
