It has recently been announced in the press that Travelex is moving their headquarters to Kings Cross, at a time when Kings Cross Office Space remain very positive about more international companies locating themselves in the area.
Travelex the foreign exchange group are relocating from their historic headquarters at 65 Kingsway. An interesting move given that Holborn is also booming in terms of tenant demand. However what Kings Cross can boost ahead of Holborn is the choice of grade A new buildings. Holborn is better known at the moment for high quality refurbishments.
Arguably the rents between Holborn and King’s Cross are similar. Both locations will today look to achieve rents in the region of £65.00 per sq ft for the best buildings. In terms of serviced offices in Kings Cross a landlord would expect to received between £300 – £800 per desk per month depending on the grade of the property.
In terms of the Travelex transaction, they have chosen to take about 20,000 sq ft in Kings Place at 90 York Way. This building is also home to the Guardian Newpaper who were arguably the forerunner to the tenant demand explosion which we are now witnessing. At this stage Kings Cross Office Space are not sure whether the Travelex transaction has been concluded but indications in Property Week suggest that a rent in the mid £50.00s per sq ft per annum is being paid.
Travelex is increasingly being seen as a go to destination for online foreign exchange, and the choice to choose an office in King’s Cross can be seen as an endorsement for the area and it’s ability attract online businesses.
Kings Cross Office Space is a small and independent, commercial office agency team, with a presence in King’s Cross. You can call the office on 020 3434 3877 or email sales@reesa.com with your specific requirements.