The Crown Estate, which manages the British royal family’s property holdings, has unveiled plans for a £400m redevelopment of three sites in St James’s in London, UK.
The scheme, known as St James’s Market, will deliver 200,000ft² of office space and 45,000ft² of shopping, restaurant and leisure accommodation between Haymarket and Regent Street.
The Crown Estate’s head of development Alastair Smart said that the regeneration of St James’s Market is an opportunity to revive a neglected location at the heart of London.
"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," Smart said.
Designed by UK-based Make Architects, the project will see the redevelopment of 14-20 Regent Street and 52-56 Haymarket.
As part of the plan, a 2,200m² public area will be revitalised and a new 930m² pedestrian square with public art will be created.
The proposals also include two associated development schemes that will create new homes totalling 40,000ft², ranging from one-bedroom apartments to a four-bedroom family home.
Make Architects, Tate Hindle, and Paul Davis & Partners have developed the proposals for the three sites, while CBRE provided planning advice.
The project is the second part of the Crown Estate’s £500m St James’s regeneration programme to be implemented over ten years.
The first part, known as the St James’s Gateway project between Jermyn Street and Piccadilly, is underway.
The Crown Estate intends to apply for planning consent in the summer and hopes to start on-site work by autumn next year and be complete by 2016.