The Crown Estate has revealed details of its commercial property development plans in London's West End. The company claims that the first three projects, with a total development value of more than £430 million, will provide 250,000 square feet of office, leisure and retail space in the heart of the capital, helping to drive the regeneration of the West End, attract global investment and contribute to London's wider success.
The delivery of the development forms a core part of the Crown Estate's wider strategy across its London portfolio, which the company says will contribute to delivering a more accessible, diverse and sustainable city. The redeveloped space complements other work being carried out across the Crown Estate's central London portfolio, including the 'Park to Park' project, which is being carried out in partnership with Westminster City Council to “re-envision and enhance” the public space between Regent's Park and St James' Park, including Regent Street, Haymarket and Piccadilly Circus, as well as a major programme of maintenance works across the West End's famous historic buildings.
Construction has begun on three commercial property developments – New Zealand House (pictured), 10 Spring Gardens and 33-35 Piccadilly. The construction phase has already seen a number of training and employment opportunities created across all three sites. This reflects what the developer claims is a key strategic objective for The Crown Estate, with the company working with charities such as Breaking Barriers, Drive Forward Foundation, Under One Sky and Work While to promote accessible apprenticeships and boost green skills.
The Crown Estate is the collection of land and property in the United Kingdom that is owned as a legal entity by the British Crown. It is considered neither a government property nor the personal property of the Crown. Although the Crown formally owns the estate, it has no involvement in its management or administration.
New Zealand House
Located at the southern entrance to the Haymarket, Arts Quarter and St James's Market, New Zealand House is a Grade II listed historic building. Opened in 1963, it was seen as a symbol of the New Zealand government's contribution to the UK after the Second World War, and its wider relationship with the British people and government.
More than 60 years ago, the building was home to London's first fully air-conditioned offices and was a fine example of innovation and modernity. Through an extensive, sustainability-focused refurbishment, the Crown Estate is working to celebrate New Zealand House's iconic architecture and restore its innovation. 90% of the structure has been left intact, with reused steel and 1,600sqm of historic finishes carefully preserved. As a result, the construction phase is expected to use less carbon than the Crown Estate's ambitious portfolio-wide target of 400kgCO2/m2.
The refurbishment project also includes the Grade I listed Royal Opera Arcade, which has been sensitively restored and enhanced. Once completed, New Zealand House will provide 138,000 sq ft of office and hospitality space overlooking Westminster to the south and Piccadilly Circus to the north.
10. Spring Garden
10 Spring Gardens is located between The Mall and Trafalgar Square, overlooking St. James' Park. The building was built for the British Council in 1975 and is currently undergoing a complete renovation which will deliver approximately 80,000 square feet of sustainable workspace across the ground floor, basement and top eight floors.
Sustainable design and construction has also been a high priority for this commercial real estate project, retaining over 90% of the building's structure and facade and minimising the use of new raw materials whilst enhancing the quality of the office floor plates, amenity spaces and entrances. Upon completion, it is aiming to achieve a NABERS 5-star rating, EPC A, BREEAM Excellent and WELL Gold certification.
Piccadilly 33-35
The redevelopment of 33-35 Piccadilly will deliver 3,000 sq ft of premium retail and hospitality space on the ground floor and 30,000 sq ft of office space on the upper floors, increasing office and retail floorspace by 85%. Once completed, the project will improve connections between Regent Street and Piccadilly, as well as between St James's Church and Jermyn Street. It is aiming to achieve a NABERS Five Star rating, WELL Platinum certification and a BREEAM Outstanding Award.