Nature, walkability and flex space help King’s Cross tempt workers back to the city

Covid, the biggest disrupter out there, has catalysed the adoption of flexible working by companies large and small, both in the capital and around the UK. But there are some locations that are especially well-placed to appeal to a new generation of flexible workers, and the King’s Cross district is one of them.

The first major draw of the area is that the neighbourhood - which encompasses the King’s Cross estate, and areas south of that up to Russell Square and then eastwards up to the Caledonian Road - benefits from its proximity to extensive transport links.  This has made it historically attractive and is without doubt why, in the last five years, the area has attracted big-brand providers such as WeWork, The Office Group, BE Offices and Landmark - as well as operators such as The Boutique Workplace Company, which offer an alternative environment of homely spaces in converted buildings. 

The area – appealing pre-pandemic but ever more so now – is a draw for workers who want a desk within 10 minutes walk from the major transport interchange. With King’s Cross station on the doorstep, workers are able to commute from the regions to the City and be part of a vibrant business district. The other appeal of this neighbourhood, especially for those who want to take their city experience semi-skimmed, is its connectivity to a range of natural spaces. Not only has Covid proved that the natural world is an asset for our all-around health but for our productivity, too. 

We now know that working near green space improves employee engagement and concentration, and thus with Regent’s Canal towpath or the Camley Street Natural Park on the doorstep, a respite between deadlines is well within reach. In addition, the planned Camden Highline will offer a new elevated park and walking route connecting York Way in King’ Cross to Camden Gardens eight metres above ground level. Combine this with a thriving cultural and social scene, where you can browse a floating barge bookshop in your lunch hour, or take part in gardening workshops at the King’s Cross Skip Garden, then it is little wonder that the area has proved attractive to workers seeking a more holistic experience of their working day, one in which you can interval the daily grind with a quick trip to an art exhibition. 

Currently, prices for the King’s Cross area are, on average, £800 per desk per month – on a par with West End locations. As competition intensifies for flex space in these locations we are seeing incentives dropping off; whereas last year it would have been possible to secure a three-month rent-free period on a year’s contract, tenants would now be lucky to get one month rent-free.

All of these factors have probably led to The Office Group’s decision to partner with Argent and the King’s Cross Central Limited Partnership on a management agreement on building R8 at the King’s Cross Estate, which comprises 140,794 sq ft, of space that will include 45,273 sq ft of S106 affordable workspace. With the overall King’s Cross district offering so much, it is no surprise that there are a wealth of operators lining up to take space in the area, however, a lack of stock has increased competition. 

As we move forward, we certainly expect this to change as the pace of demand for flexible space continues to grow resulting in more opportunities opening up for operators and therefore more choice for occupiers emerging in the coming years.