The Crown Estate unveils West End development pipeline
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The Crown Estate has unveiled details of its development pipeline in London’s West End, with construction already underway on the first three projects.
These initial three projects – at New Zealand House, 10 Spring Gardens, and 33-35 Piccadilly – are set to have a gross development value of over £430m and deliver 250,000 sq ft of office, leisure, and retail space.
The Crown Estate said the developments form a core part of its wider strategy across its London portfolio – which spans 10 million square feet of workspace, retail, dining, leisure and residential space – to contribute to a more accessible, diverse and sustainable city.
At New Zealand House, situated at the southern gateway to Haymarket, the Arts Quarter and St James’s Market, the Grade II-listed building is set to undergo an extensive refurbishment. The retrofit project will also see the restoration of the Grade I-listed Royal Opera Arcade. Once completed, New Zealand House is set to deliver 138,000 sq ft of office and hospitality space overlooking Westminster to the south and Piccadilly Circus to the north.
Meanwhile, the redevelopment of 33-35 Piccadilly is set to provide 3,000 sq ft of prime retail and hospitality space on the ground floor, with 30,000 sq ft of office space on the floors above. The finished project will also look to provide an improved connection between Regent Street and Piccadilly, while better linking St James’s Church and Jermyn Street.
Finally, the project at 10 Spring Gardens, located between The Mall and Trafalgar Square, is set to deliver around 80,000 sq ft of sustainable workspace across ground floor, basement and eight upper storeys.
Simon Harding-Roots, managing director, London at The Crown Estate said: “These three developments will deliver much-needed quality employment space into the heart of London’s West End. They form part of our wider investment in the future of the Capital, and complement major projects such as the extensive improvements we are making to public spaces across Regent Street, Haymarket and Piccadilly Circus with Westminster City Council.
“Collectively, the works we are undertaking across our London portfolio are underpinned by our ambitions to make it a more accessible, sustainable and inclusive city.”
Kristy Lansdown, head of development at The Crown Estate, added: “New Zealand House, 10 Spring Gardens and 33-35 Piccadilly represent just the start of our ambitious development plans in London as we look to create spaces and places that respond to the needs of businesses, visitors and local communities of today, and for future generations.
“These projects will deliver world-class space that is sustainable in every sense of the word, as we work with a range of partners to create buildings with significant social and economic impact.”