International law firm Bryan Cave Leighton Paisner (BCLP) has advised longstanding client King’s Cross Central Limited Partnership (KCCLP) on a pre-let to Facebook, which will take leases of 611,000 sq ft of office space at King’s Cross. Around 15% of the total commercial space at King’s Cross (4m sq ft) will be let in a single deal, marking the move as one of the biggest commercial deals in London this decade.
Facebook, which currently has UK offices in Rathbone Place and Brock Street, London, will occupy three buildings at King’s Cross, including P2 on Lewis Cubitt Square and 11 and 21 Canal Reach. Facebook will join other high-profile tenants at King’s Cross, which pre-lets BCLP previously also advised KCCLP on, including Google, Universal Music, media multinational Havas, The Office Group and Louis Vuitton.
The BCLP team was led by partners Chris Rowe, Liana Hewson and Tessa Kimber working with associates Jennifer Hurdle, John Arey, Jimmy Wheeler, Mateen Khan, Payam Yoseflavi and Michael Dempsey with tax input from Matt Poole, Ceinwen Hayes and Paul Williams. Construction advice was provided by Rosie Miller and Gillian Thomas of Hogan Lovells. An Eversheds team led by partners Tom Goldsmith and Bruce Dear acted for Facebook.
Chris Rowe commented: “We are delighted to have acted for KCCLP on this hugely significant pre-let. The deal demonstrates great confidence in the London economy and further enhances King’s Cross’ reputation as a tech destination. We’re very much looking forward to seeing these buildings being constructed and being part of the continuing development at King’s Cross over the coming years.”
Dave Marriott, in-house counsel at Argent who are the developers and asset managers of King’s Cross, said “We are thrilled to be welcoming Facebook to King’s Cross, and look forward to them becoming part of the community. This is a significant transaction for both London and King’s Cross and we are grateful for the substantial efforts of everyone involved in getting this to completion with remarkable speed and good humour”.
