Guardian Media Group is considering taking a prelet of Argent St George’s proposed 8m sq ft Kings Cross scheme in north London, writes Jon Neale.
The group, owner of The Guardian and The Observer , wants to relocate from its headquarters at 119 Farringdon Road, EC1 — and several nearby buildings — and has been searching for around 150,000 sq ft. A source close to the company said: “It has seen the opportunity at Kings Cross. It has not made a final decision yet but Kings Cross is likely to be one of its shortlisted options.”
Its shortlist is thought to include Land Securities’ Bankside 123 and Royal London Asset Management’s and Blackfriars Investment’s Palestra, both in SE1 and both available for immediate occupation — unlike King’s Cross, which has only recently reached the planning stage.
However, the newspapers would like to remain north of the river because many of their staff live in north London.
GMG is also thought to favour relocating within Islington, where the Argent scheme is situated.
GMG bought 119 Farringdon Road from Islington council for £2.16m only three years ago and the building would be particularly profitable if converted to residential use.
An application for change of use might be looked upon more favourably if the company remains within the borough.
