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INSIDE THE PROPERTY BOOM NEAR KING’S CROSS

The regeneration around King’s Cross Station continues at pace, which is why Knight Frank have opened an office dedicated to the new property opportunities emerging in the area, as Office Head Mark Batty explains

How exciting is it to open an office in King’s Cross?

We are very excited to be opening our 21st London office in King’s Cross. It’s an area that has changed massively over the last couple of years and with the new King’s Cross Central Development taking shape it will continue to evolve. Knight Frank has been involved with the residential development throughout N1C, and recently has been instructed in the selling of all the residential units in King’s Cross Central and renting of the first complete residential building, Arthouse.

The property hotspot surrounding King's Cross

Knight Frank’s Mark Batty

Why was a Knight Frank outlet in the area needed?

With 50 new buildings, 2,000 new homes, 20 new streets, 10 new public spaces, 67 acres all accessible to the 45,000 people who live, work and study in the area, it was a fantastic opportunity to be part of the largest urban redevelopment in Europe. The King’s Cross office will work closely with our neighbouring office in Islington, providing unrivalled knowledge of the Central and North East London property market.

How has the property market fared in the area in 2014?

The lettings market goes from strength to strength and we have seen the highest annual increase in rent in two and a half years. The summer market was exceptionally busy with the number of new prospective tenants in September being 22% higher than the same month last year, and the total for the first nine months of the year was 19% higher than the same period in 2013. Meanwhile, the high number of new tenancies agreed by Knight Frank in September meant the total in the first nine months of the year was 48% higher than 2013, whilst the number of tenancies commenced was up 55% over the same period.

The property hotspot surrounding King's Cross

Regent’s Wharf on Camley Street, a typical property on the market with Knight Frank King’s Cross

Can you give an insight into the typical properties you are marketing?

We are marketing a variety of properties from contemporary modern apartments such as Regent’s Wharf on Camley Street (pictured) to grand period houses in Bloomsbury.

What developments particularly excite you?

On a residential side it has to be St Pancras Chambers with its striking gothic design. This Grade I-listed development consists of 67 apartments offering a mixture of original period features and contemporary fittings with the benefit of 24 hour porterage and use of the facilities in the five-star St Pancras Renaissance Hotel. Even though it’s not built yet I am excited to see the new Google London headquarters as apparently they plan to have a swimming pool on the roof.

What three things, for you, sum up what King’s Cross is all about?

It’s well connected, has a diverse community and is evolving.

Unit 1, 9 Handyside Street N1C 4AY; 020 3589 2840; knightfrank.co.uk

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