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Tue October 20 2020

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Crown Estates given planning OK for 500,000 sq ft of London developments

2 Aug 10 Crown Estates has received planning permission from Westminster Council for three development projects totalling 520,000 sq ft.

Crown Estates has received planning permission from Westminster Council for three development projects totalling 520,000 sq ft.

Two of the schemes are on Regent Street, where the developer's portfolio is worth an estimated £1.6bn.

The project at 169-183 Regent Street, known as W5, will comprise 45,000 sq ft of retail space and 150,000 sq ft of offices.

The other development, at 153-167 Regent Street, will feature 35,000 sq ft of shops and 140,000 sq ft of offices.

Planning approval was also granted for an application to develop 45 flats, including 21 affordable, on another site north of Oxford Street.

The third major scheme is an overhaul of the Gateway Project on Piccadilly, SW1. The 150,000 sq ft development will include an extra 90,000 sq ft of office space, and a further 8,000 sq ft of shops.

Head of the Regent Street portfolio at the Crown Estate, David Shaw, said: “With all our newly developed office space now let and no material retail space available on Regent Street our strategy continues to be to enhance and improve the street for the benefit of visitors as well as all those that live and work in Regent Street”.

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