King’s Cross Central Limited Partnership (KCCLP) has appointed Cushman & Wakefield as valuation agents for its 67-acre development next to the famous London station following a competitive pitch.
The appointment as valuer reinforces Cushman & Wakefield’s position as one of the key advisors at King’s Cross – the largest mixed-use, single-ownership development in Central London for 150 years. Cushman & Wakefield’s decade-long association with the scheme includes its ongoing role as joint office letting agents and more recently as joint letting agent for the retail element.
The King’s Cross area has already been transformed and, when complete in c.2021, will comprise a combined total of 8 million sq ft of offices, residential, retail and leisure properties – with 50,000 people living and working in a new London district.
Key office lettings already concluded include Google, LVMH, Universal Music and Havas, while the retail component will include 500,000 sq ft of shops, restaurants, cafes, bars and other leisure facilities. Coal Drops Yard, due to complete and open in Q4 2018, will be the retail heart and home to up to 60 brands.
John Bareham, International Partner in Cushman & Wakefield’s Valuation & Advisory team, said: “We are naturally delighted to be appointed on King’s Cross which is one of the most exciting projects underway across Europe. This appointment further confirms our market leading position in Central London where we value property worth an aggregate £100 billion.”
Mike Lightbound from Argent, said: “Cushman & Wakefield’s extensive knowledge of the site and the wider London market made them the natural choice. We look forward to working with them over the coming years.”
In 2015, Cushman & Wakefield’s UK Valuation & Advisory team of 235 professionals in 10 locations valued 59,000 properties worth a combined £549bn. The firm retained its position as the market leader in several sectors including retail, Central London, business space, outlet malls and self-storage.
About King’s Cross
King’s Cross is a critically acclaimed 67 acre, 8 million sq ft development in central London. The developer, the King’s Cross Central Limited Partnership, is made up of Argent and Australian Super, Australia’s largest superannuation/pension fund. The new London estate includes 20 new and refurbished office buildings, nearly 2,000 new homes, as well as new shops and restaurants. Aside from the sheer scale, what makes King’s Cross different is the determination to create an interesting place with a varied mix of uses. The area benefits from a lively and diverse arts and events programme that makes use of the world-class public spaces that are being delivered. http://www.kingscross.co.uk/