ABSTRACT
This chapter examines the story of King’s Cross after the grant of planning permission. It considers the steps that were required in order to trigger the valuation of the site, its transfer to the developer and the difficulties that the global financial crisis from 2008 presented in the early phases of development. By the end of the 19th century, King’s Cross was one of the largest railway depots in the world, and had been developed by different railway companies. While the parties had been busy securing the land transfers needed to start work, conditions in the London property market had changed dramatically. Despite increasing uncertainty in the property market, the King’s Cross Central Limited Partnership (KCCP) took the decision to commence development with the University of the Arts London as occupiers of the Granary Building. To maintain the momentum, KCCP ploughed back all its receipts to cover the next phase of infrastructure.
