BNP Paribas Real Estate, the leading international property adviser acting on behalf of BNP Paribas, and AXA Real Estate, acting on behalf of its clients, announce that they have fully let the entire 365,000 ft² (33.909 m²) office space at 6 Pancras Square, King’s Cross in London to Google, which had originally leased 45% of the building earlier this year.
BNP Paribas Real Estate developed the building under its property development business line and sold the forward funding to a joint-venture led by AXA Real Estate, on behalf of its clients, in late 2012. The company was retained as leasing agent by the JV.
55% of the space at 6 Pancras Square was going to be leased to BNP Paribas for its Investment Solutions business, including BNP Paribas Real Estate. In early 2014 Google agreed to take the remaining 45% of space there. This will now extend to the whole building and BNP Paribas has assigned its leases to Google.
BNP Paribas Real Estate CEO Thierry Laroue-Pont said: “This is an example of BNP Paribas Real Estate being able to apply its balanced business model offering client services across a number of disciplines: developing, investment and leasing - something no other company can do. Together with financing solutions offered by BNP Paribas, we can look after our clients in a genuinely unique way. This deal really is a tribute to our property development business which has created such a top quality modern building which garnered huge interest from other occupiers.”
Source: BNP Paribas