The UK government is selling a 36.5% stake in the redevelopment of the 67-acre King’s Cross site. The proceeds – the stake’s value is put at £360m – will go to the Treasury.
The redevelopment is scheduled to be finished in five years, at which time the site is expected to be valued at up to £5bn.
The government’s stake in King’s Cross Central Limited Partnership is held through London & Continental Railways. The sale will be managed through Savills and Lazard. A second stakeholder, DHL, is selling its 6% share.
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Daily Telegraph, p. 29
The Guardian, p. 19
