- The Office Group takes long lease at King’s Cross
- Innovative property company to take 30,000 sq ft in building E1
- Completion and occupation scheduled for 2014
The Office Group (TOG), innovative provider of high quality workspace, has reached an agreement with the King’s Cross Central Limited Partnership (KCCLP) to acquire a leasehold interest on the 67 acre King’s Cross development. The deal will see TOG continue to grow and diversify their London offer, through the acquisition of 30,000 sq ft of retail and office space in the yet to be constructed E1 building, situated next to the entrances of King’s Cross and St Pancras mainline stations.
E1, which consists of a new-build office wrapping around the listed Stanley Building has been designed by Studio Downie Architects. E1 will contain a striking lightwell between the new and old buildings and will also bring the original Victorian roof terrace back into use atop of the Stanley Building. The design and general quality of the architecture of the building is consistent with its position at the southern gateway of the development and its relationship with the listed Stanley Building. Once complete, E1, alongside the listed German Gymnasium and the new B2 building, will help to frame a new space to welcome visitors to King’s Cross.
Outline planning consent for the new building was secured in 2006 and reserved matters approvals are due to be submitted shortly. Subject to consent being granted, KCCLP will prepare to commence construction work on site at the end of this year, allowing TOG to occupy the new retail and office space in 2014. Once complete, the building will provide 30,000 sq ft of workspace through a range of flexible offices, meeting rooms and drop-in working space.
Speaking about the acquisition, Charlie Green, Co CEO of The Office Group, stated:
“This is a quality position in arguably London’s most exciting major development scheme and it’s very exciting for us to have the opportunity to work with Argent to create a great building here.
“The ways in which we work are changing with people needing more flexible, technology driven yet considered space. So we’re designing this building to function as efficiently as possible to meet that demand, marrying that with its key location and profile. The range of work spaces will target technology, media and creative sectors, as well as strong corporate demand for agile working.”
Speaking about the agreement, David Partridge, Joint Chief Executive, Argent, said:
“We hugely welcome The Office Group and the contribution they will make to the rich and diverse mix of King’s Cross. We will now be able to offer workspace from a few hundred square feet to several hundred thousand. Their flexible, sustainable and design led approach to providing workspace makes them a perfect fit for King’s Cross and they are a fantastic company to have on board.
“Studio Downie Architects are responsible for the superb design of building E1, located in one of the best connected parts of the development. We are now looking forward to working with The Office Group to develop and deliver a building that fully meets the needs of London’s businesses.”
The Office Group currently operates 11 buildings and at the time of writing has an occupancy across its London portfolio of 99.5%. In addition to the E1 building, it will be opening a further 3 buildings in London this year. TOG is expanding it’s offering with the development of the ClubRooms concept, which it will roll out in all new buildings and across a selection of it’s existing portfolio, offering a range of drop-in offices and work spaces. TOG is committed to further significant growth in London, acquiring freeholds, virtual freeholds and select leaseholds.
The agreement with TOG is the eleventh significant agreement for space at King’s Cross. Coming shortly after deals for the Western Transit Shed and building B1, a substantial amount of commercial space has now been let on the development. This, combined with the recent openings of Granary Square and the King’s Cross Filling Station, as well as the move of the University of Arts London to the Granary Building and the opening of King’s Boulevard in late 2011, demonstrate that King’s Cross is well and truly open for business.