Axa helps fund new King’s Cross offices

INSURANCE giant Axa has agreed to forward fund the development of BNP Paribas’s new headquarters at King’s Cross for around £300m. Axa, in partnership with an unnamed partner, will take ownership of the 400,000 square feet office building, which is 55 per cent pre-let to BNP Paribas on a 15 year lease. Construction is due to begin next year, for completion in 2014.