From the Crown Estate.
Works have begun on site at Quadrant 2 South, marking the start of the latest project under The Crown Estate’s £1 billion regeneration of Regent Street.
The works at Quadrant 2 South will see the Grade II listed properties redeveloped behind retained façades to provide new, modern office space, further enhancing Regent Street’s reputation as a destination for global businesses. It is anticipated that construction will be completed by early 2015.
The project, a wholesale retrofit of Quadrant House and 7-9 Air Street, follows on from previous redevelopments which have seen the Regent Street Quadrant transformed into a destination for fashion, lifestyle and business. Projects completed to date include the land mark Quadrant 3 scheme, a £400 million, 25,000 m2 (270,000 ft2), mixed use redevelopment, which boasts Al Gore’s Generation Investment Management and Telefonica Digital amongst its office tenants.
The building is targeting the highest levels of sustainability drawing on power from the UK’s first molten carbonate fuel cell which The Crown Estate installed at Quadrant 3 earlier this month. The building is set to produce 40 per cent less carbon emissions than equivalent new builds utilising power produced by one of the most advanced central energy centres in the world at Quadrant 3, which includes the recently installed fuel cell, the most efficient of its kind in Europe. Quadrant 2 South will also make use of a range of green sustainable technologies, including photovoltaic panels, to further boost the building’s energy efficiency and reduce its carbon output.
Alastair Smart, Head of Development said: “This project is a great example of our commitment to high quality, sustainable development in our ongoing transformation of Regent Street. Quadrant 2 South will provide new modern office spaces, enhancing Regent Street’s appeal as a destination for global businesses, whilst preserving the important listed facades that give the area its unique character.”
We are undertaking a £1 billion regeneration of Regent Street, which we own in partnership with Norges Bank Investment Management (NBIM). Since the Regent Street programme began in 2002 it has delivered 12 major redevelopments which have provided new flagship retail and office spaces securing the street’s position as a world leading shopping destination and an attractive location for a range of successful businesses. We are currently also on site with a further two major redevelopment projects, W4 and W5 South, which are together set to provide over 23,200 m2 (250,000 ft2) of flagship retail and office space.