Leading finance provider, Newday, Double up at King's Cross

21 July 2016

The King's Cross Central Limited Partnership (KCCLP), advised by Savills, has let the Midland Goods Shed at King’s Cross to consumer finance provider NewDay.

The deal sees NewDay relocate from Two Pancras Square and double its take up on the scheme to 30,000 sq ft (2,790 sq m).

The Grade II Listed Midland Goods Shed built in 1850 has been sympathetically restored and converted into a contemporary design, led by Bennetts Associates. The building is in the heart of King’s Cross, next to the Waitrose food store and cookery school, Central Saint Martins and Everyman Cinema, which will be opening in 2017.

Stuart Lawson, director in the Central London team at Savills, comments: “The deal to NewDay was agreed 10 days prior to the EU referendum and concluded only 10 days afterwards. The speed of transaction coupled with a substantial rental increase makes this a significant leasing agreement and a strong indicator of continued confidence in the central London office market.”

Will Colthorpe, partner at Argent (KCCLP), adds: “NewDay’s announcement is more good news for King’s Cross. It is a testament to King’s Cross, and the ongoing success of the development, to have re-let the space so quickly to a leading consumer finance provider.  By mid- 2017 we expect to have over 12,000 people working at King’s Cross, confirming its reputation as London’s new office destination and leading the way in workplace design and performance.”

This deals leaves approximately 800,000 sq ft (74,320 sq m) of the 3 million sq ft (278,700 sq m) of office space  available at King’s Cross.
Newton Perkins acted for NewDay; Savills is jointly instructed with Cushman and Wakefield on behalf of KCCLP.

 
 

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