Regent Street

We hold almost the entire freehold to Regent Street and since 2002 have been implementing the £1 billion Regent Street Vision investment programme. Although an ongoing project, it has already created an iconic international destination.

Overview

Regent Street Overview

With a street frontage of 2 km and with over 10,000 people employed there, Regent Street receives over 7.5 million tourist visits a year. Its Grade II listed facades also represent some of the most distinguished architecture in London.

The Regent Street Vision investment programme, guided by the values of quality, heritage, style and success, is ensuring the future viability and prosperity of the Street and its buildings. It has created exemplary commercial, retail and visitor facilities within a significantly improved public realm and the results can be seen on the Street today.

Its 1.5 million ft² of flagship retail space is home to one of the finest collections of international brands in the world, including Apple, Burberry, Banana Republic, Jaeger, and Anthropologie.

But Regent Street is much more than just retailing, it is a premier business address too. It offers one million ft² of space, comprising both small offices for growing businesses, and large, modern office floor space for international companies such as Apple, Lloyds TSB and Matrix Group.

We know that world class businesses deserve a world class environment. And that's why we are clear that the 'bits between the buildings' are as important as the buildings themselves. So we have invested over £25 million in public realm improvements. We have created two pedestrianised food quarters for workers and shoppers to eat drink and relax in. In addition, we have transformed, with partners, Oxford Circus and Piccadilly Circus, the gateways to Regent Street.

We manage Regent Street on behalf of ourselves and our partner, Norges Bank Investment Management, after establishing the Regent Street Partnership in 2011, which saw NBIM acquire a 25 per cent leasehold interest in the Street.

The Regent Street Partnership remains committed to the ongoing Regent Street Vision investment programme that has already been credited with transforming the Street. Now halfway through this programme, we have delivered ten redevelopments and major refurbishments, comprising 2 million ft² (186,000 m²).

Retail

Regent Street Retail

Visitors to Regent Street come from all corners of the globe. Whether it's quintessential British brands that have called Regent Street home for many years, such Burberry, Jaeger and Hamleys, or international flagship stores like Apple, Banana Republic and Anthropologie, Regent Street is now the must visit retail destination for shoppers the world over.

Regent Street was in fact the world's first shopping street, and now our ongoing £1 billion investment programme has transformed it once again into the world's premier shopping destination, where leading brands regularly choose to launch their European operations.

Our focused retail strategy is guided by Regent Street's values of quality, heritage, style and success, and our major property redevelopments have created large open retail floor plates, suitable for modern occupiers. This investment has yielded results and we currently have strong demand for space from a variety of international brands.

Part of this success can be attributed to our major investments in the street's public realm, which is consistently enhancing the visitor experience. Successes include the creation of two pedestrianised food quarters for visitors to eat, drink and relax in after a hard day shopping, and the transformation of both Oxford Circus and Piccadilly Circus, Regent Street's principal gateways.

Regent Street's position as one of the world's premier retail destinations is further reinforced by our annual programme of internationally renowned events and marketing activities; these include the dedicated consumer website, the Christmas lights switch-on, an annual street festival, and in the past, we have also played host to Formula One.

Offices

Regent Street Offices

Whilst Regent Street is best known as a shopping street, it is also one of London's leading business addresses; by value, around half of Regent Street is in its office space.

The Street provides 1 million ft² of office space to suit a diverse mix of tenants. Small start ups take advantage of our flexible approach to leasing, while major multinational companies utilise our newly developed, modern open plan offices. All of our tenants benefit from high quality office space in the heart of the West End.

The Street is home to an array of successful international companies, including Lloyds TSB, leading advertising agency, BBH, and Generation Investment Management.

Guided by the Regent Street Vision, we are committed to not only investing in and developing our office space but also the surrounding public realm, to ensure that Regent Street continues to provide a world class business environment.

Over the past 10 years we have created around 450,000 ft² of new office space, much needed in London's core West End. Our most ambitious scheme to date, Quadrant 3, will soon deliver a further 200,000 ft² of prime office space just off Regent Street and work will also soon start at our Block W4 project, to provide an additional 100,000 ft² of prime office space.

Development

Regent Street Development

We are halfway through our £1 billion Regent Street Vision investment programme, which will regenerate and transform Regent Street into:

a quality shopping street
a successful business address
a place for people

We have already completed ten redevelopments and major refurbishments. Current projects include our ambitious Quadrant 3 redevelopment, a £300 million mixed-use scheme. Set for completion by the end of 2011, almost three months ahead of schedule, it will be the largest office-led development to come to market in the West End during 2012. This is part of our broader Quadrant redevelopment that also includes the creation of a 160 room five star hotel, and the most significant addition to London's public realm since Trafalgar Square. Work will also commence soon at Block W4, our next major mixed use scheme.

We do not believe in a masterplan for Regent Street - it is a living, breathing, working part of the city that does not conform to a blueprint. Instead the Vision sets out clearly how we see this part of the West End evolving to meet the changing expectations and aspirations of the businesses and people it serves. The strategies cover issues such as public realm, conservation, architecture, and office and retail space.

During the next ten years, our Regent Street Vision investment will continue to offer huge benefits not just to the local community and visitors as an award-winning destination, but also the country as a whole, as the street's value and rental returns increase for the benefit of the nation's finances.