The announcement confirmed that the musician’s trade body will move from the Noho office rental on Berners Street that has been its home for over half a century. PRS for Music will rent the top 4 floors of Two Pancras Square, while back-office operations will remain at its Streatham facility.
PRS helps to collect and distribute royalties from the public performance of music on behalf of more than over 100,000 composers, songwriters and music publishers.
Robert Ashcroft Chief Executive of PRS for Music commented on the agreement, saying "This is a significant move for our organisation, having been at our Berners Street offices for over sixty years. Relocating part of our business to King's Cross enables us to maintain a Central London presence at the heart of the music industry. We are also investing heavily in our Streatham facility, making it the centre of our operations, IT and member services teams. The combined move will offer an exciting new workspace for our staff and represents the best value for our music creator members."
Two Pancras Square has been designed by Allies & Morrison architects without a specific tenant in mind. Argent plc has shown its confidence by proceeding without a pre-let agreement in place for the 130,000 sq ft property. Offering nine storeys of Camden office space the speculatively built property boasts a large roof garden and is a short walk from excellent Tube and national rail connections.
The wider regeneration scheme has attracted leading organisations such as Camden Council and Google is building a 1 million sq ft complex to service as its new UK headquarters. Lead by Argent, the King's Cross Central Limited Partnership (KCCLP) has capitalised on the arrival of high-speed Eurostar trains and the refurbishment of King’s Cross and St Pancras rail terminals. Once the King’s Cross Business Centre is completed next Summer, PRS will begin a 15 year lease.