King's Cross commercial property site bought by BNP Paribas Real Estate - Commercial Property News covering City of London Commercial Property News, Mayfair & St James Commercial Property News, Mid Town Commercial Property News, Outer London Commercial Property News, Victoria & Knightsbridge Commercial Property News

King's Cross commercial property site bought by BNP Paribas Real Estate - Commercial Property News covering City of London Commercial Property News, Mayfair & St James Commercial Property News, Mid Town Commercial Property News, Outer London Commercial Property News, Victoria & Knightsbridge Commercial Property News

French bank BNP Paribas has made its first foray into the London commercial property market with the purchase of an office development in King's Cross, it has been revealed.

BNP Paribas Real Estate agreed to purchase a 430,000 sq ft office development site at Argent's King's Cross Central, paving the way for the launch of its continental construction business in the UK.

It appears the company has been encouraged by the regeneration of the new business district being led by the King's Cross Central Limited Partnership comprised of Argent, Hermes Real Estate, London & Continental Railways and DHL.

According to the Telegraph, Philippe Zivkovic, chairman of BNP PRE, said: "This first development project means that all six of our business lines will be established in the UK."

Located outside the entrance of St Pancras International station, the proposed building to be constructed at the site could end up serving as the UK home of BNP PRE, added the newspaper.

Meanwhile, US hedge fund Gramercy has boosted the Victoria and Knightsbridge commercial property market with a new office in the capital.

Posted by Emma Davies

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