Tesco store to anchor King’s Cross regeneration
Metro format store for key London development
November 22 2003
Tesco has become the first retail tenant to sign up to Regent Quarter, a landmark regeneration scheme in the King’s Cross ara of central London.
The UK’s biggest retailer has agreed a 15 year lease with P&O Developments on a new unit in the development’s Focus Point building on Caledonian Road.
Development of Focus Point, which will also provide 24,000 sq ft of office space, is well underway. Fitting-out of the 15,000 sq ft unit in the Tesco Metro neighbourhood supermarket format is due to start at the end of the year, with the building due for completion in February 2004.
In all, 35,000 sq ft of retail space is being created at Regent Quarter along with 50,000 sq ft of restaurant space, 13,000 sq ft of leisure accommodation and 210,000 sq ft of offices.
Graham Corser, P&O developments senior surveyor in charge of the scheme says: “Kings Cross is set to become one of London’s liveliest areas with a wealth of commercial and residential development underway or planned, following the massive investment in new public transport initiatives including the new Channel Tunnel Rail Link station at St Pancras, due to open in early 2007.”
Carol Leslie of Tesco says: “Metro stores attract a wide range of people – helping to enliven a new development with their economic buzz and activity.
“For people living hectic lifestyles there’s little time left for shopping and entertaining, Tesco Metro is designed to tap into this market – making it easier, simpler and more attractive to live in a busy town or city.”
