Abu Dhabi’s sovereign wealth fund is preparing for a £270m sale of a complex of buildings next to King’s Cross station, N1.The Abu Dhabi Investment Authority, which is advised by LaSalle Investment Management, is understood to be close to appointing Cushman & Wakefield and CBRE to market its 250,000 sq ft Regent Quarter development, N1. The guide price is expected to be more than £270m, although the yield at that price is currently undisclosed.Across three phases of development with as many as 30 buildings, the scheme covers nearly 200,000 sq ft of fully let offices as well as some retail. LaSalle, which paid less than £100m for the assets in 2005, is looking to capitalise on the strong rental growth that has taken place in the area, owing in part to Argent Related’s King’s Cross Central scheme on the other side of York Way.Henderson Global Investors’ Central London Office Fund owns the fourth phase, which covers around 85,000 sq ft of offices.Although Regent Quarter is already well let, surrounding rental growth will give the vendors an clear investment “story” to promote as retail and office leases there come to an end.To give an idea of the rental improvement in the area, Henderson signed MacMillan publishing to its scheme in 2012 at a rent of £45 per sq ft. Rents now being achieved at King’s Cross Central top £70 per sq ft.ADIA and LaSalle’s property had been tentatively marketed for sale last November, but a deal was not pursued.The buildings were developed by P&O Istithmar and sold to LaSalle’s London Office Fund in 2005. LaSalle completed the letting of the scheme in 2009. The wider 630,000 sq ft development occupies a 5.8 acre island site bounded by York Way, Pentonville Road, Wharfdale Road, Caledonian Road and Balfe Street.Key tenants within Regent Quarter include Eurostar, EC Harris, Tesco, McDonald’s, YRM and Aukett Fitzroy Robinson.The properties are a mixture of new-build and listed warehouse conversions.