From an industrial transport hub to a thriving office and commercial centre, King’s Cross has been one of the biggest transformation success stories in recent years. We take a look at its past, present and future.
From an industrial transport hub to a thriving office and commercial centre, King’s Cross has been one of London's biggest transformation success stories in recent years. We take a look at its past, present and future.
Past
The area became known as King’s Cross after a statue of King George IV was erected (and quickly demolished) in the 1830s at the cross roads of New Road (now Euston Road), Maiden Lane (now York Way), Pentonville Hill (now Road) and Gray's Inn Road.
This major transport hub is placed in the north of the city because an Act of Parliament banned any railways from coming south of New Road – this is why King's Cross, St Pancras, and Euston are all built along this road.
It was only when the Regent’s Canal was developed in 1820 that the area became a commercial hub, opening it up to the northern cities. A temporary station opened in 1850, with the present station coming just 2 years later and the Great Northern Hotel in 1854. The present concourse and travel centre opened much later in 1973.
In the 19th century the area was a bustling transport and trade centre with its railway freight facilities, urban canal and passenger transport interchange. Grain and coal were transported and stored in the huge warehouses to the north of the canal. The granary still stands and has recently been regenerated to include educational facilities and restaurants.
In the 1850s, homes were built nearby along Caledonian Road, while the area between Somers Town and the Goods Yard was given over to local workers to build their own poor-quality homes.
During the 20th century, the station stopped carrying freight and the canal became less popular – triggering a period of decay where buildings became derelict and the area run-down and dilapidated.
Present
It was in the 21st century that King’s Cross started to get rid of its negative reputation with the major King’s Cross Central regeneration project not only transforming the station but most of the surrounding areas.
The regeneration, when finished in 2020, will include:
- 67-acres of land
- 500,000 sq ft of restaurant and retail space
- 3.4m sq ft of office space
- University campus
- 2,000 new homes
- New primary school
- 10 public squares
- Three parks and a lido
Key developments in the area include the new Central St Martins Campus, built in the former granary buildings, which also host the restaurant Caravan and a brand new public square; King’s Place, which offers a cultural hub with office space, a theatre and conferencing facilities; and the new King’s Cross and St Pancras stations, which include the rejuvenated St Pancras Hotel.
It’s testament to its reinvention that firms such as Google and Havas have now decided to host their UK offices here.
The area has in some ways benefited from its turbulent past, with architects being allowed a free rein to redevelop and re-imagine the area without the weight of history on their shoulders. The same cannot be said for places like Soho, where redevelopment has caused outrage among locals.
Commercial rents in the area have increased more than 30% in the past two years, driven by tech firms and pharmaceutical companies. Its status as a key transport hub has helped drive the office sector here, with fast connections to key research hubs such as Cambridge making it a great choice for science research firms.
The Francis Crick Institute opened a medical research centre here recently, while MSD has offices at 2 Pancras Square and Intercept Pharmaceuticals has just signed on for offices in the same building.
Strutt & Parker research found that major transport hubs like King’s Cross have already overtaken the City in terms of office rents, as occupiers from the West End, the City and beyond have been pulled in by their strong transport and ‘street life’ offering.
From industrial transport hub, to no-go-at-night area and back to cutting-edge commercial centre, King’s Cross has been many things to many people. But it now seems to have found its own voice and has become an area in high demand.
Many predict that once the major regeneration projects are complete in around 2020, the area’s offices will seriously complete with the traditional core West End areas in terms of office rents.
Although most of the demand will be centred on the King’s Cross Central area, local neighbourhoods in Islington along York Way and Pentonville Road could also benefit from supporting regeneration and redevelopment.
There are a number of major transport developments that could also impact the station. The opening of the HS2 station in Euston could extend the regeneration of the area along Euston Road and the surrounding streets, while Crossrail 2 is currently planned to stop at King’s Cross.