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Google has been given the green light by planners for their occupation in the S2 office building at Argent’s King’s Cross Central scheme. The new office development will be solely occupied by Google, after a 15 year lease was agreed on the 180,000 sq. ft. property. The rental figure is believed to be around the £55 per sq. ft. mark – a discount on the average rent at the scheme (£75 per sq. ft.) due to the plans not being submitted.
The news follows the letting of 4 Pancras Square by Universal Music – also on the Argent development – in October 2015. The music giant has signed a pre-let for 177,000 sq. ft. for its new headquarters, moving over 1,000 employees from Kensington. The building is due to be completed in the summer of 2017.
Alongside Universal Music and Google, Kings Cross will house global media firm Havas, fashion giant Louis Vuitton and PRS for Music. The area is fast becoming a hub for creative industries, and the letting of S2 to Google is further testament to the pull-factor of the new development. Over 12,000 people are expected to be working at King’s Cross by 2017-18 and there is still c. 700,000 sq. ft. to be let across the development.
Eugene O’Sullivan, Managing Director at tenant acquisition specialist Morgan Pryce, said: “The new development is now becoming the place to be for creatives. Googles pre-let at the S2 building cements King’s Cross place as the ‘new section’ of London in terms of office space.
“With significant amounts of space still left in the development, expect to see more creative tenant’s looking to move to the area, to further enhance its attractiveness.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.