High Street Retailer New Look have abandoned plans to move their headquarters to a new office development in Kings Cross and have signed their lease over to internet giant Google.
Despite signing the lease in 2016 and being due to move sites later in 2018, the retailer has had a change of heart on the move. This is due to the fall in sales which New Look has experienced in the past months and the high street brand also has debts amounting to £1bn. As a result, New Look have decided not to move into the 123,000 square foot Kings Cross office. The company have announced that they are going to remain in the Mortimer Street office in Fitzrovia where they have 60,000 square feet of West End office space.
Google were more than pleased to take on the space as the internet giant looks to firmly entrench their office in the Kings Cross area. The Kings Cross regeneration scheme involves a number of developers and is led by Argent, they currently occupy 371 square feet of office space on Pancras Square and are building an additional 650,000 square feet of prime Kings Cross office space.
This is part of a growing trend of technology companies choosing to base their European headquarters in London which we have been seeing recently. Here at Robert Irving Burns, we have a number of offices available in Kings Cross. If you would like to make Google your new neighbours, do not hesitate to contact a member of our commercial lettings team or visit us in our Fitzrovia offices.