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Crown Estate Unveils Regent Street Revamp

LONDON-The Crown Estate has unveiled for a massive investment programme in London's Regent Street.

By Graham Parker | Updated on May 15, 2001

LONDON-The Crown Estate has unveiled for an £0.5 billion ($0.7 billion) investment programme in London’s Regent Street. The Crown owns all the property in the street between Piccadilly Circus and Oxford Circus, and the investment – spread over the next ten years – is intended to ensure that the street retains its status as one of the world’s top retail destinations and business centres.

The buildings were developed in the 1920s and as a result much of the retail and office accommodation is in need of refurbishment. The Crown plans to work with other investors – like Heron and Benchmark – that own intermediate interests on the street. The Crown will also invest in improving the environment for pedestrians with measures to reduce traffic and pollution.

Crown Estate Chief Executive Sir Christopher Howes said: “Regent Street is currently one of the most famous and popular streets in the world. We want to retain the elegant style of the street, and we must also ensure it is a place where people want to shop, visit, work and relax.

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