May 2006
LaSalle Investment Management has let 65% of its retail units at Regent Quarter, a 5.8 acre major mixed-use development at Kings Cross. The lettings leave approximately 15,000 sq ft out of a total 46,000 sq ft of retail space, setting the tone for the area’s transformation.
Regent Quarter covers an area of six acres directly to the east of King’s Cross station, bordered by York Way and Pentonville Road. It already enjoys unrivalled transport links and, by 2007, will access mainline Europe in two hours from King’s Cross St Pancras on Eurostar .
Starbucks and Prêt à Manager are now trading at 296 and 300 Pentonville Road. They complement anchor tenants, Tesco (Metro) which opened in 2004. Starbucks signed a lease of 15 years for £95,000 per annum and Prêt à Manager agreed a lease for 15 years for £58,500 per annum. Café Sorento will provide a unique Italian eaterie at 2b York Way, opening its first outlet at the end of June. The Tanning Shop will open in similar time at 8 York Way and has signed a lease for 15 years at £35,000 rent. A new style Bookmakers, Better Bet, has now opened and provides a new service with a café at 286/288 Pentonville Road. It agreed a rent of £80,000 and is one of the first 20 such units it hopes to get open this year. JAC Opticians has started fitting out on site, agreeing an average rental of £45,000 over the first five years of the lease on a 15 year term at 280 Pentonville Road. Adecco has just agreed a new ten year lease at a rent of £47,500 for 282 Pentonville Road and will offer recruitment services to Kings Cross from July. Finally the London Luggage shop has agreed terms and will offer stylish luggage to Eurostar and other travelers through Kings Cross from 290-292 Pentonville Road. It has signed a new ten year lease at a rental of £65,000 pax. The shop will be open from July. Andrew Bull, European Director at LaSalle says, “Regent Quarter is undoubtedly one of London’s most significant current developments and lies at the heart of the regeneration of King’s Cross.
We are thrilled to be able to announce this number of significant new retail businesses as tenants.”
Simon Horner
020 7647 4807
simon.horner@gcw.co.uk