St James's

We own nearly 50 per cent of the buildings in St James's and the area is part of the core fabric of The Crown Estate. Our portfolio is the focus of a £500 million investment plan and comprises some 4 million ft² of retail, office and residential space with a value of over £1 billion.

Overview

St James's overview

St James's is part of The Crown Estate's core West End holdings. Our portfolio comprises nearly 50 per cent of the buildings in St James's; some 4 million ft² of retail, office and residential space with a value of over £1 billion.

We are committed to a ten year programme to invest £500 million into our holdings. Our approach is guided by a clear strategy, which aims to enhance and refine St James's, sensitively, carefully and for the long term. Investment will improve the cohesion of our holdings but also protect St James's future as a distinct niche in the West End office market, and a world renowned destination for shops and restaurants. We will also build on the area's residential character and improve the public realm by redressing the balance between pedestrians and motorists.

Some of our most exciting schemes are taking shape here. Major redevelopment projects such as St James's Gateway, where works began in 2010, will deliver a modern 21st century business space and enhance and respond to the character of the area, reflecting our commitment to architectural excellence.

St James's is home to some of London's most celebrated heritage but there is much more to it than this. It is a living and evolving part of London. More than its architecture or heritage, this thriving culture and community is at the heart of the area's success and The Crown Estate's approach to investing in St James's future.

Retail

St James's retail

St James's is the ultimate blend of elegant heritage and eclectic retail. Our retail strategy for St James's seeks to further endorse its position as a world-class shopping and dining destination whilst maintaining its heritage, sense of tradition, elegance and luxury.

Across St James's The Crown Estate directly controls 23,000 m² (250,000 ft²) of prime retail space. Our £500 million investment in the area is helping to attract retailers that embody the St James's brand and values: "Personal, Distinctive, Stimulating and Eclectic".

Projects such as St James's Gateway, which began in 2010, reflect our commitment to maintaining architectural excellence, while significantly improving the public realm and pedestrian experience.

Through regular street events and promotions we are also working closely with local businesses, customers and retail trade associations to promote St James's to consumers across the globe, cementing its position as London's finest retail and dining destination.

Offices

St James's offices

As well as being a prime retail and residential destination, St James's has a significant and distinct offer within the office market in London's West End. The area is home to some of the world's leading hedge funds and financial institutions, oil and natural resource companies, which are attracted by the area's central location, excellent transport infrastructure and high quality office space.

Over the next ten years our office strategy will deliver significant improvements to St James's established office offer, in line with our architecture and conservation strategies. To ensure St James's continues to be fit for business in the 21st century we will be developing 42,000 m² (450,000 ft²) of new modern offices and refurbishing around 23,000 m² (250,000 ft²) of office space.

We seek to understand our customers' changing circumstances so we can evolve to meet their needs. In particular, we are proud that our commercial and flexible approach to leasing negotiations has resulted in high levels of customer retention.

Residential

St James's residential

St James's continues to be one of London's most exclusive residential quarters.

Through active management and investment in our portfolio, we are reinforcing St James's as a high quality residential area. Our properties meet the highest standards in their residential market and are supported by a strong and respected customer brand, together with excellent service from us and our service partners.

Alongside this investment in existing residential stock, we are seeking to double the residential provision within our St James's portfolio from 9,500 m² to reach 19,000 m² (100,000 to 200,000 ft²).

We also understand that the local environment is important to everyone in St James's, especially its residents. So we are continuing to invest in the surrounding public realm and the provision of local amenities such as high quality dining, retail and, particularly in the lower Regent Street and Haymarket area, entertainment.

Development

St James's development

In 2011, we launched a £500 million investment programme in St James's to enhance the cohesion of our holdings but also to protect St James's future as a distinct niche in the West End office market and a world renowned destination for shops and restaurants.

Our vision is to refine and enhance the area to maintain its unique history and heritage. Our investment will safeguard and build on the area's residential character and improve the public realm by redressing the balance between pedestrians and motorists.

We know that to be successful in developing and preserving this most historic quarter of London, our approach must be based on consultation with local businesses and communities.

Our St James's investment programme is guided by a series of strategies, which not only outline what we are trying to achieve, but also how the local community can expect us to approach issues such as architecture, public realm, conservation and the creation of new office and retail space.

Our first major redevelopment scheme, St James's Gateway, started on site in 2010 and is a £100 million joint venture with Healthcare of Ontario Pension Plan (HOOPP). We retain the freehold of the blocks, will oversee the development and directly manage the properties on completion in 2013. The development will deliver new modern office and retail space but also reflects a commitment to architectural excellence and sensitivity to the area's historic character.

As with our Regent Street partnership with NBIM, this deal demonstrates our ongoing commitment to working with partners that share our values to create fresh sources of capital for investment in our core West End holdings and beyond.