Developer Argent is in discussions to offer flexible leases for growing technology companies at its King’s Cross, N1, scheme.
David Partridge, managing partner at Argent, revealed King’s Cross Partnership is looking to allocate up to 100,000 sq ft of its 67-acre site for growing technology, telecoms and media companies. Google has already signed a deal for its 1m sq ft new headquarters on the site.
He said: ‘It is difficult for someone that owns just one building but because we own the estate we can have a blend of business types as tenants. We could give around 3 percent of the entire estate to smaller but growing technology companies, and we can be more flexible.’
Discussions for shorter lease lengths and lower rents for these types of occupiers are now underway.
Partridge added: ‘We do not want lettings for these type of tenants to be a albatross around their necks.’
He revealed the new potential strategy to Estates Gazette after the London- tech capital of Europe debate, where delegates heard from a panel convinced the capital is still leading the way in the TMT sector.
Special advisor to Canary Wharf Group, Eric van der Kleij, said his client was also willing to be more flexible to attract growing TMT occupiers.
He said: “We should think about Shoreditch as the place for start-ups, and Canary Wharf as the place for grow-ups.” Canary Wharf Group will target financial-tech and retail-tech businesses as new occupiers.
For more on the MIPIM TMT debate watch the video or listen to the podcast below for the full interview with Argent managing partner David Partridge
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