Press Release
THE CROWN ESTATE ANNOUNCES NEXT PHASE OF £750 MILLION INVESTMENT IN REGENT STREET
5 February 2010
The Crown Estate has submitted planning applications to Westminster City Council for the redevelopment of two blocks on the west side of Regent Street, half way between Oxford Circus and Piccadilly Circus. The blocks sit directly to the north and south of New Burlington Street and are bounded by Regent Street, New Burlington Place and New Burlington Mews.
Known as projects W4 and W5 (south) the two blocks currently contain a number of buildings that offer poor quality, inefficient office and retail accommodation.
This £200 million investment will deliver two new buildings each offering in excess of 14,000 m² (150,000 ft²) of world-class retail and office accommodation. It will improve the public realm in surrounding streets and preserve Regent Street’s listed facades and heritage, together with many other significant historic features.
David Shaw, Head of Regent Street Portfolio at The Crown Estate said: “Regent Street’s £750 million regeneration programme continues to build on its success an international retail and business destination of quality, heritage and style. We are pleased to be making a dramatic contribution to a flourishing West End with over fifty new retailers open, and over 300 new office businesses established since 2002.”
Alastair Smart, Head of Development at The Crown Estate said: “We already have an enviable track record in development on Regent Street and are delighted to announce the submission of planning applications for the next phase, W4/W5 (south). Our schemes continue to deliver modern office and retail space for 21st century occupiers and at the same time protect Regent Street’s historic architecture for generations to come.”
Alongside W4/W5 (south) The Crown Estate is also bringing forward three residential projects that will provide 46 new homes within the Westminster community, 22 of which will be high quality affordable family homes.
CBRE Planning advised The Crown Estate. W4 and W5 (south) proposals were developed with Alford Hall Monaghan Morris (AHMM). Ogle Street and Albany House were developed with Tate Hindle. Mortimer Street was developed in partnership with MSMR Architects.
Recent Announcements
Regent Street Redevelopment
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