Before its collapse, ISG was working on the first phase of the refurbishment and redevelopment plans, estimated to be worth around £70m.

Now work has halted on this first phase which was scheduled to complete towards the end of 2025.

The project forms part of a wider 10-year redevelopment plan running over seven-phases for the Regents Quarter planned by Hong Kong developer Nan Fung Group and its subsidiary Endurance Land.

A project insider told the Enquirer: “The word is Multiplex is hoping to take on the job along with the ISG team on this one.”

ISG regional managing director Jason Curtis has just joined Multiplex as a project director and is expected to be involved in the plans to take on the job after been involved in the project with ISG.

Multiplex is close to the Nan Fung Group having recently secured a pre-construction agreement to build the Hong Kong-based developer’s planned 35-storey 99 City Road tower scheme at Old Street Roundabout in London.

The Regent Quarter scheme is designed by Piercy and Co with other members of the team including nbbj, Hoare Lea, Arup and Gardiner and Theobald.

Regent Quarter masterplan aims to transform the area next to King’s Cross station into a life sciences hub

The first phase involves adapting Jahn Court from commercial office to a fully fitted CL2 60/40% 100,000sqft laboratory and office environment.

The repositioned buildings will have strong environmental credentials, including: BREEAM excellent, low embodied carbon (353kgCO2e/m2), as well as an all-electric services solution.