Kier has been appointed main contractor by the King’s Cross Central Limited Partnership (KCCLP) for the 388,000 sq ft, 12-storey building.
Contract value has yet to be officially disclosed but confirmation of the award should give the company and its shareholders a lift after seeing the share price collapse from 752p to 385p in the past month and a rights issue generate a lacklustre market response.
P2 is the latest project being delivered as part of the 67-acre King’s Cross redevelopment. It primarily comprises office accommodation over nine floors. It will also house a 600-seat theatre with associated bar and front & back of house facilities. The ground floor on the south side will be dedicated to retail space, expanding the shopping experience outward from the Coal Drops Yard complex.
Work has already begun on the pre-construction phase and P2 is due to be completed in 2021.
Kier Regional Building director Peter Young said: “Building on our extensive experience in the area, we are delighted to again be working at King’s Cross on this important new scheme. The P2 building will form a vital part of the King’s Cross masterplan and complement the existing development to complete a key piece of the neighbourhood.”
King’s Cross project director James Edgerley said: “The building will create some fantastic and important office space, further extend the retail experience here at King’s Cross and provide an impressive new theatre on Lewis Cubitt Square. We have a long-standing relationship with Kier and we are delighted to be working again with key members of the team that delivered building R7 so successfully last year.”
Previously, Kier has delivered the R7 scheme at King’s Cross, comprising offices above a cinema and restaurant space. It has also been involved in the redevelopment of the Grade II listed Midland Goods Shed and East Handyside Canopy for grocery chain Waitrose with nearby offices space for NewDay, as well as the £42m ArtHouse scheme, a residential development, and 5 Pancras Square.