Crown Estate launches AirW1 development
The Crown Estate has named the new office scheme that is being developed in Regent Street, London.
The new development has been named AirW1 and will offer approximately 200,000 sq ft of prime, Grade A office space when completed. Availability is currently timetabled for Q4, 2011. The offices are part of a mixed-use new development in the heart of London on the site of the former 94 year-old Regent Palace Hotel.
The listed hotel has been demolished and redeveloped in to a mixed-use building containing 7 floors of office space. Many of the existing historic facades are being repaired and retained, while four glamorous 1930s entertainment venues are being completely restored within the redevelopment. The development is currently the largest being undertaken in the West End.
The scheme, originally named the Quadrant 3 development, is being managed by Stanhope plc. Architects behind the development include Dixon Jones and Johnson Naylor. Strict planning conditions were imposed by heritage and planning bodies and the developers have agreed to create a 44,000 sq ft public realm area as part of the office development. Planning permission was granted in 2007 and permitted a maximum of 7 floors of offices in the main building with additional, smaller offices in The Prow with access from the Glasshouse Walk entrance.
The offices will be serviced by a high-tech energy centre installed on one of three basement levels in the Quadrant block. The energy centre will be powered by a cutting-edge hydrogen fuel cell – similar technology used to power space shuttles. As such a BREEAM rating of ‘very good’ or ‘excellent’ should be expected.
The Crown Estate reported in February 2010 that Regent Street is an international business destination and as a landlord it provides serviced offices to over 300 businesses. Forthcoming office space schemes known as projects W4 and W5 (south) have also been submitted to the planning authorities. The Crown Estate aims to redevelop these two office blocks with a £200 million scheme to deliver two new office buildings each offering in excess of 150,000 sq ft of world-class retail and office accommodation.
Marketing agents for the AirW1 scheme are CB Richard Ellis and Jones Lang LaSalle. Rental prices have not yet been made available.
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