Danish toymaker Lego is in advanced talks to take 100,000 sq ft of offices at the Argent-led redevelopment of King’s Cross, N1.
Lego instructed JLL earlier this year to find it a new London headquarters in a move which represents a significant expansion of its UK footprint. It currently occupies 25,000 sq ft at Kirkbi’s New Fetter Place, EC4, and around 30,000 sq ft at 33 Bath Road in Slough, Berkshire.
Lego is circling T3, a 165,900 sq ft office building due for completion in early 2019. It is understood the toymaker is considering an option to extend its requirement to 150,000 sq ft, effectively taking the whole building.
The 10-storey building, designed by Bennetts Associates, will be located on Canal Reach, N1, alongside T2, a 230,500 sq ft office building also due for completion in early 2019.
Office rents at King’s Cross have climbed to more than £70 per sq ft this year. Fashion retailer New Look agreed in January to pay the sum to lease the majority of the Duggan Morris-designed building R7 in Handyside.
Once finished, the 67-acre Argent-led development will include 3.4m sq ft of workspace alongside 2,000 homes and 500,000 sq ft of retail and leisure space.
A Lego spokeswoman said: “We are experiencing tremendous growth here in the London hub, and we are doing a lot to fit everyone into our present premises.
“At the same time, we always need to be prepared in case we grow out of these premises, so therefore we are always on the lookout for interesting opportunities.”
Cushman & Wakefield and Savills are leasing agents for the King’s Cross Central Partnership – a joint venture between Argent, Hermes Investment Management and Australian Super.
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