Redevelopment works have begun on site at Quadrant 2 South, marking the start of the latest project under The Crown Estate‘s and Norges Bank Investment Management‘s (NBIM) £1bn regeneration of Regent Street.
The works, which are expected to be completed by early 2015, will see the Grade II listed properties redeveloped behind retained facades to provide new, modern office space.
The project, a wholesale retrofit of Quadrant House and 7-9 Air Street, follows on from previous redevelopments that have seen The Crown Estate transform the Regent Street Quadrant into a destination for fashion, lifestyle and business.
Projects completed to date include the land mark Quadrant 3 scheme, a £400 million, 270,000 sq ft, mixed use redevelopment, which boasts Al Gore‘s Generation Investment Management and Telefonica Digital amongst its office tenants.
The lead architect is Barr Gazetas, project manager is Buro Four and planning consultant is CBRE.
The building is set to produce 40 per cent less carbon emissions than equivalent new builds and will feature the UK‘s first molten carbonate fuel cell. Quadrant 2 South will also make use of different green sustainable technologies, including photovoltaic panels, to further boost the building‘s energy efficiency and reduce its carbon output.
Alastair Smart, head of development at The Crown Estate said: “This project is a great example of our commitment to high quality, sustainable development in our on-going 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.”
Since the Regent Street programme began in 2002 it has delivered 12 major redevelopments. The Crown Estate is currently also on site with a further two major redevelopment projects, W4 and W5 South, which are together set to provide over 250,000 sq ft of flagship retail and office space.