King’s Cross partners invest a further £50m to unlock more development on 67 acre site

Posted: Tuesday 16th March 2010

Building on the £150m investment by the King’s Cross Limited Partnership last year, the partners are gearing up to deliver more infrastructure with a further £50m being invested in the 67 acre central London project. Full details of the investment are being revealed today as the MIPIM property conference in Cannes gets underway. (See the download link to the document on the left).

Last year, Argent, London & Continental Railways and DHL committed the investment to take forward key elements of the masterplan framework infrastructure and deliver the first phases of the scheme. Fast forward 12 months and following a year of progress and delivery on site, the partners have resolved that capital receipts from various projects and deals should be reinvested into bringing forward vital infrastructure across the site. This enhanced ‘Framework’ infrastructure will release plots for development and will shorten the delivery timetable of the scheme.

The investment will include the delivery of the Boulevard – London’s first new major street in 100 years – which will provide a direct link between the Eastern Goods Yard and the King’s Cross – St Pancras transport interchange; the realignment and re-profiling of Good’s Way; final finishes to Granary Square – a major new public square for London; Cubitt Square and Cubitt Park.

Sir David Clementi, chairman of King’s Cross said:

“2009 was a significant year for King’s Cross and 2010 is set to be even better. Over the last 12 months, we have made tremendous progress in delivering both a new home for Central Saint Martins and essential site-wide infrastructure, including key components of our low-carbon district energy system. Housing, student housing and offices are now also coming forward and the Partnership has committed itself to re-investing the proceeds in yet further delivery. King’s Cross is very much in business and we are ensuring that the necessary infrastructure and utilities are provided to support this new part of central London.”

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