Shares in development to be sold
We’ve written about the government’s aim to sell publically-owned shares in the King’s Cross Central Partnership before, but it seems George Osborne is putting the plans into action.
The Office for Budget Responsibility predicts the government will make £360m on the sale of the shares, which represent a 36.5% stake in the company developing the 67-acre (27 ha) site.
The building project, which includes shops, offices, colleges, homes and parks is Europe’s largest city centre development.
The sale is part of Osborne’s plan to bring in £32bn from selling public assets – the most ever raised this way.