INDUSTRY NEWS

The Crown Estate unveils St James’s redevelopment plans

Plans have been unveiled by The Crown Estate to redevelop three separate sites in the St James’s area of London.

The redevelopment scheme, which has been titled St James’s Market, is set to provide around 200,000 sq ft of London office space – located on Regent Street and Haymarket.

The Crown Estate has already sought public opinion on the plans via a series of consultations. Plans for the scheme – which is set to cost around £400 million – are set to be submitted to Westminster City Council during the summer.

If the plans are approved, work on the project would be expected to commence next autumn (2013).

Alastair Smart, from The Crown Estate, spoke about the proposals.

He said: “The regeneration of St James’s Market is an opportunity to revive a neglected location at the heart of London, bringing it back into line with historic St James’s for the benefit of 21st century businesses, local residents and visitors alike.

“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.”

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