BLP advises seller on Google's King's Cross deal

International law firm Berwin Leighton Paisner (BLP) acted for King's Cross Central Limited Partnership in the sale of a development site fro Google's new UK headquarters.

The internet giant has taken a 999-year lease on a 2.4 acre site it what has been described as a £550 mln (€646 mln) investment and occupation transaction.

The site will now be developed as Google’s new UK headquarters and has outline planning permission for 70,000 m2 of office space with ground floor retail. It is estimated the property could be valued at more than €1 bn.

The deal forms part of King’s Cross Central Limited Partnership’s wider regeneration plans for the development of King's Cross Central and is one of the most valuable property deals since the start of the financial downturn.

Commenting on the transaction, BLP Partner Andrew Sanders said: 'The deal represents a significant stage in the broader plans for the development of King’s Cross Central and reaffirms London’s position as a prime location for global brands.'

The BLP team was led by real estate partner Andrew Sanders with support from senior associate Chris Rowe. Marie Scott led for law firm Nabarro which advised Google.