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 block, 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 R7 building in Handyside Street.
Once finished, the 67-acre King’s Cross development will include 3.4m sq ft of workspace, 2,000 homes and 500,000 sq ft of shops and leisure uses.
A spokeswoman for Lego said: “We are experiencing tremendous growth in the London hub, and we are doing a lot to fit everyone into our present premises. At the same time, we need to be prepared in case we grow out of these premises, so we are always on the lookout for interesting opportunities.”
Cushman & Wakefield and Savills are leasing agents for the King’s Cross development.
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