The Crown Estate acquires headlease of West End mixed use property
The Crown Estate has acquired the headlease of 100 Regent Street in London from a vehicle managed by Federated Hermes Real Estate for £95m.
The Grade II-listed building comprises more than 53,000 sq ft of retail and office space. The Crown Estate already owns the building’s freehold as part of the Regent Street Partnership, its joint venture with Norges Bank Investment Management.
The Crown Estate said the acquisition enables its partnership to take direct control of the entire building, supporting its strategy to invest in Regent Street. The group will now look to enhance the office spaces, curate the existing retail offer, and improve the building’s environmental performance.
Dominic Packwood, investment manager at The Crown Estate, said: “This important acquisition marks a key step in delivering our long-term vision for Regent Street and the wider West End. Direct ownership of 100 Regent Street will help us to realise our ambitious plans across our portfolio, including the delivery of our development pipeline and public realm investment, alongside our wider goal to create a vibrant, inclusive and sustainable West End.”
Savills acted for The Crown Estate.