BNP Paribas Real Estate has signed an agreement with Kings Cross Central Limited Partnership to purchase a site at Kings Cross, paving the way for its first office development in the UK. The property advisory arm of French bank BNP Paribas plans to build a 40,000 m[sup]2[/sup] office building at the Kings Cross development, which will have a total surface area of 800,000 m[sup]2[/sup].
BNP Paribas Real Estate has signed an agreement with Kings Cross Central Limited Partnership to purchase a site at Kings Cross, paving the way for its first office development in the UK. The property advisory arm of French bank BNP Paribas plans to build a 40,000 m2 office building at the Kings Cross development, which will have a total surface area of 800,000 m2.
Commenting on the deal, Philippe Zivkovic, chairman of BNP Paribas Real Estate, said: 'Work is to begin in autumn 2012, following the Olympic Games, with completion in 2015. This first development project means that all six of our business lines will be established in the UK (development, transaction, advisory, valuation, property management and investment management).'
Zivkovic indicated that he plans to move BNP Paribas Real Estate's London team into part of the new building which has ambitious targets in terms of energy-saving and sustainable development, and is aiming for BREEAM Excellent certification.
Kings Cross Central was represented by Argent.
