Government starts sale of its investment in King’s Cross Central development
The government has announced the start of the sale process of its investment in the iconic King’s Cross Central redevelopment.
The decision to sell the government’s investment in King’s Cross Central Limited Partnership (KCCLP), which is developing land around King’s Cross Station, was announced by the Chancellor in June.
The sale of the government’s investment in the 67 acre site, which is being redeveloped with offices, residential and leisure properties, will be a multi-million pound deal with all proceeds returning to the Treasury.
The government’s sale of its 36.5% interest in KCCLP is a significant opportunity for private capital to gain exposure to one of Europe’s most important city centre regeneration projects.
Launching the sale Transport Minister Robert Goodwill said:
“By selling the government’s shares in King’s Cross Central we are selling an asset we no longer need to keep and realising its value for the taxpayer. The sale will help reduce the deficit and by doing so deliver lasting economic security for working people.”