Crown submits West End office construction plans

Office design news from Morgan Lovell

Published on 08-02-2010

The Crown Estate has submitted plans for the creation of 300,000 sq ft of office space in London's West End as part of the continued regeneration of the area.

The scheme will hopefully lead to the creation of new modern office design space on Regent Street if it is given the green light by local planning officials.

"We are pleased to be making a dramatic contribution to a flourishing West End with over 50 new retailers open and over 300 new office businesses established since 2002," commented David Shaw, head of the Regent Street portfolio at The Crown Estate.

Elsewhere in the capital, investment management firm BlackRock recently announced the firm has exchanged contracts with Exemplar Developments and Canary Wharf Group for a 25-year lease on 300,000 sq ft of office space at Drapers Gardens in the City of London.

BlackRock has secured an initial rent-free period of 36 months, followed by costs of £49 per sq ft for the remainder of the term of the contract.

Posted by Paul Kelly.