Three sites in St James's are to be redeveloped to deliver new mixed-use space, including London offices
The £400 million Crown Estate project is expected to provide 300,000 sq ft of extra space, with the lead scheme entitled St James's Market. Designed by Make Architects, the plans cover the transformation of 52-56 Haymarket and 14-20 Regent Street. The latter buildings will be given a makeover, while the Haymarket block will be replaced.
Once the redevelopment is complete, 45,000 sq ft of retail premises will be available for brands, along with 200,000 sq ft of St James's offices. In addition, the construction of 40,000 sq ft of new homes is on the cards.
Commenting on the news, head of development at The Crown Estate Alastair Smart said: "Our long-term vision for the area will protect St James's distinct niche in the West End office market, enhance its position as a stimulating and eclectic shopping and dining destination, create new homes, improve the public realm and above all, protect St James's celebrated heritage."
Last month, the organisation revealed a new fashion, lifestyle and retail hub would soon open at Regent Street's southern end. As well as first-class retail space, new Grade A London offices
, restaurant and homes will also be delivered under the £300 million mixed-use development.
The facility - Quadrant 3 - will house stores including Whole Foods Market, Jack Space, Wolsey and Stone Island. The latter's chief executive Carlo Rivetti explained why the brand wanted to move from Beak Street to the new retail quarter, stating its "great location" and the "non-stop consumer flow from Regent Street and Piccadilly Circus".
In total, Quadrant 3 is 270,000 sq ft in size, with 200,000 sq ft of this Grade A London offices
. At the end of last year, Generation Investment Management agreed to a 15-year lease for more than 21,000 sq ft of space across the top floor.
Posted by Sarah Dudley
News provided by Adfero in collaboration with Mellersh & Harding. Please note that all copy belongs to (c)Adfero Ltd and does not reflect the views or opinions of Mellersh & Harding unless explicitly stated.