DTZ and Savills have been selected to market the office element of Argent’s £2bn King's Cross scheme, Property Week has learnt.

In a hotly contested agency pitch the two companies beat CB Richard Ellis, Drivers Jonas and Cushman & Wakefield. Around 14 agents originally submitted proposals.

The office element of the 7.9m sq ft mixed-use King’s Cross scheme is around 4.9m sq ft and is regarded as the most important and lucrative agency letting instruction after Canary Wharf in London’s Docklands.

It is thought that DTZ and Savills could earn between £15m and £20m each in fees over the lifespan of the development.

A final period of discussions will take place before the two agents are formally appointed.

Argent’s 67 acre brownfield site is located to the north of King’s Cross and St Pancras stations. London & Continental Railways and DHL-Exel own the land. It is one of the biggest regeneration schemes under way in London.

All parties declined to comment.