Argent is set to introduce a three-month rent holiday for all its retail, leisure and restaurant occupiers.

Coal Drops Yard

Coal Drops Yard

The landlord is one of the first to offer its occupiers rent relief as a result of the impact of the coronavirus outbreak.

The rent holiday will be given to all retailers and food occupiers that sit in its King’s Cross development.

The rent holiday is expected to start from 25 March.

The 67-acre site, which is owned by the King’s Cross Central Limited Partnership, a joint venture between developer Argent and pension fund AustralianSuper, comprises a mixture of homes, shops, offices, galleries and restaurants.

“These are unprecedented times and while many businesses can adapt to the Government’s social distancing measures by asking staff to work from home, for our retailers, restaurants and cafes the effects are more profound and many have had to close their doors,” said James Rayner, retail lead for King’s Cross.

”We know that these businesses are going to feel the impact quite significantly and we want to support them through this period. We really hope that the public will continue to support them, whether that’s through their online stores or by engaging with them on social media. We and all the businesses at King’s Cross and Coal Drops Yard look forward to welcoming people back when we’re able to do so.”