King's Cross Central Limited Partnership (KCCLP) has successfully completed a new, single loan facility of circa £1Bn which is secured by a number of investment assets at the King's Cross Estate.

The loan term is up to 5 years and secured on attractive terms providing funding certainty and consolidating a number of existing loans, streamlining KCCLP's finances.

The structure and flexibility of the loan underline the strength of the Estate as a sustainable investment and the quality of its ownership and management.

Robert Evans, CEO of the King's Cross Estate and Joint Managing Partner of Argent said, “It is clearly significant that King's Cross can secure a loan of this calibre in a challenging market. It represents a powerful endorsement of King's Cross as a highly desirable place, a resilient asset and leading destination.”

The refinancing deal comes at an important time for the King's Cross Estate which is entering the final stages of development with the last office and residential buildings all under construction. The King's Cross Estate achieved carbon neutrality in 2021 and remains 100% commercially let to major occupiers including Meta, Google, AstraZeneca, Havas, Universal Music and The Office Group. The recent residential sales launches have proved the most successful in the history of the development. The loan was arranged and underwritten by Morgan Stanley Bank N.A. KCCLP was advised by Rothschild & Co.

ENDS

Press contact: Isabelle Finn, Account Director, London Communications Agency

ilf@londoncommunications.co.uk | 07738 018 023

About King's Cross

King's Cross is London's creative neighbourhood: 67 acres of inspiring businesses, outstanding architecture, destination retail and dining, and a vibrant cultural scene.

The area's industrial past has inspired the 50 new and repurposed buildings, including the iconic Gasholders London and the Granary Building. The estate also has 27 acres of public space, a mix of parks, streets, squares, and gardens, with Granary Square and its iconic fountains as a heart.

When complete, King's Cross will have over 1,700 homes, a mix of private, rental and affordable housing, plus accommodation for 750 students. More than 18,000 people now work in the neighbourhood. King's Cross is home to leading international and UK companies including Google, Meta, Sony Music, Havas, The Office Group, NewDay Cards and Universal Music.

Already known as a foodie hotspot, King's Cross now an established retail destination with Coal Drops Yard offering 100,000 sq ft of shops, bars and restaurants within a pair of reimagined Victorian coal buildings.

The King's Cross Estate is owned by the King's Cross Central Limited Partnership (KCCLP), made up of pension fund AustralianSuper, clients of Federated Hermes Inc and Argent investors. AustralianSuper owns a 70% stake in KCCLP. AustralianSuper manages more than AUD$260 billion in members' retirement savings on behalf of more than 2.8 million members from more than 412,000 businesses (as of 30 June 2022). One in 10 working Australians is a member of AustralianSuper, the nation's largest superannuation fund.

www.kingscross.co.uk

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