Crown Estate pushes ahead with £100m West End project after Brexit vote pause

 
William Turvill
Follow William
Crown Estate put the redevelopment on hold after the Brexit vote (Source: Crown Estate)

The Crown Estate has recovered from post-Brexit vote jitters to push ahead with a £100m West End development.

The property company, which is owned by the sovereign, put the redevelopment of the Grade II listed building on hold after the EU referendum.

Read more: Venture capital firm signs up to Crown Estate scheme

But Crown Estate today announced it has appointed Skanska to build the Duke’s Court block in St James’s. The development is part of a wider £500m investment programme in the area.

The project will create 35,000 sq ft of new modern office accommodation, from the first to the sixth floor, and 11,000 sq ft of retail and restaurant space on the ground and basement levels.

As part of the scheme, which is due to complete in the spring of 2019, six new apartments are proposed at a neighbouring 33 Bury Street.

Read more: The Crown Estate's luxury homes off Regent's Street

“We’re committed to re-establishing St James’s as world-class business and lifestyle destination,” said James Cooksey, director of central London at the Crown Estate.

“Such an investment reflects our belief in the fundamentals of London’s West End, notwithstanding the near term market outlook, and its continued performance over the long term through creating fantastic buildings that stand the test of time.”

Related articles