The Crown Estate expands West End regeneration

The Crown Estate has unveiled two major redevelopment projects in London's West End as it continues the largest development programme in its history, bringing almost 170,000 sq ft of new office, retail and hospitality space to Piccadilly Circus and Regent Street.

The schemes at 10 Piccadilly and 21–29 Glasshouse Street form the latest phase of The Crown Estate's long-term investment strategy for its 10 million sq ft central London portfolio. Together, they will deliver 169,300 sq ft of commercial space through the refurbishment and retrofit of existing buildings, reinforcing a growing trend towards upgrading heritage assets rather than replacing them.

The announcement follows a series of redevelopment projects across The Crown Estate's West End holdings, including One Hanover Street, which was fully pre-let to Ares Management earlier this year, and previously announced schemes at New Zealand House, 10 Spring Gardens and 33–35 Piccadilly.

At 10 Piccadilly, the Grade II listed building that completes Regent Street's iconic curved frontage will undergo a comprehensive refurbishment to create 90,800 sq ft of mixed-use space. The development will provide 62,700 sq ft of office accommodation alongside a new hospitality destination spanning the basement, ground and first floors, with additional retail space fronting Regent Street.

The building has played a prominent role in the West End's history, having originally housed the Swan & Edgar department store before becoming the London flagship for Tower Records during the 1980s.

Meanwhile, 21–29 Glasshouse Street will see two existing office buildings combined into a single commercial development through a retrofit-led approach. The completed scheme will provide 63,000 sq ft of office space featuring larger floorplates, upgraded interiors, rooftop amenity space and a redesigned entrance, together with 15,500 sq ft of retail accommodation at ground and basement level.

The projects form part of The Crown Estate's wider strategy to modernise its estate while retaining the character of some of the West End's most recognisable buildings. Alongside the building works, the organisation is also supporting proposals with Westminster City Council to improve public spaces across Regent Street, Haymarket and Piccadilly Circus, creating stronger links between commercial investment and the surrounding public realm.

The latest developments also reflect the continued strength of the prime London office market, where investment has increasingly focused on high-quality refurbishments capable of meeting demanding environmental standards. Rather than pursuing large-scale demolition and redevelopment, major landlords are placing greater emphasis on extending the life of existing buildings while improving sustainability performance and occupier experience.

Both schemes are targeting high environmental credentials, with 10 Piccadilly aiming to achieve BREEAM Outstanding, WELL Platinum, NABERS 5 Star, WiredScore Platinum and an EPC A rating. Across its wider development programme, The Crown Estate has also adopted an embodied carbon target of 400kg per sq m as part of its broader decarbonisation strategy.

Kristy Lansdown, Managing Director of Development at The Crown Estate, said the projects represented the next stage of the organisation's long-term vision for the West End, combining the refurbishment of historic buildings with investment intended to strengthen the area's long-term competitiveness.

For the wider property market, the schemes provide further evidence that central London's strongest investment activity continues to centre on prime locations where long-term owners are prepared to invest heavily in refurbishing existing assets. As occupiers continue to prioritise sustainability, workplace quality and amenity, retrofit-led development is increasingly becoming the preferred route for delivering the next generation of office space while preserving the character of the capital's historic commercial districts.