Music industry body IFPI moves into The Crown Estate’s Regent Street scheme
The Crown Estate has secured another letting at its newly refurbished Grade II listed building at the south end of Regent Street.
The world's recording industry body, the IFPI, has agreed to move its London headquarters from 10 Piccadilly to 7 Air Street, taking the entire third floor spanning 9,000 square feet. It is understood to be paying in the region of £85 per sq ft per year.
Air Street forms part of The Crown Estate’s Quadrant development, which is made up of four blocks at the southern end of Regent Street at the sites of the former Regent Palace Hotel, Cafe Royal and the Quadrant Arcade.
The company, which runs the monarch's property empire, has spent £1bn revitalising the area with new offices, restaurants and shops – and a "green roof" on top of 7 Air Street with plants to attract wildlife.
The deal comes after previous lettings to Akamai Technologies, specialist lender Amicus, and professional services firm, Eden McCallum, and means 7 Air Street is now over 80 per cent let.
The IFPI, which represents over 1,300 record companies worldwide, is sticking close to its music roots by moving to the Regent Street office block. The cover for David Bowie's album "The Rise And Fall Of Ziggy Stardust And The Spiders From Mars" was shot nearby on Heddon Street.
Pink Floyd has also been given a commemorative blue plaque after meeting at the former Regent Street Polytechnic 51 years ago.
Hayley Turley, asset manager for The Crown Estate’s Regent Street portfolio said: “IFPI embodies our values of quality, heritage, style and success. The speed at which we’ve been able to let this building demonstrates the premium that leading businesses place a high quality, sustainable buildings in fantastic locations such as Regent Street.”