Regent Street Redevelopment Work Begins
Enabling works are underway for a 44 unit mixed-use scheme with waltonwagner appointed as Development Manager by The Crown Estate.
Morley House, a Grade II-listed building in London’s shopping mecca, Regent Street, will shortly undergo an extensive retained façade redevelopment to meet the renting needs of overseas students, ‘techpreneurs’ and other 20-something professionals. Aiming for BREEAM ‘Excellent’ status, the development will provide six floors of residential accommodation including a residents’ lounge and screening room, as well as modern, flexible retail space fronting onto Regent Street at ground and basement levels. The scheme will also feature the most advanced technologies in thermal insulation and acoustic soundproofing as well as commercial grade fibre internet to support the tenants’ working and social needs.
The Private Rented Sector (PRS) and Build for Rent market has grown significantly in recent years. However, this mode of investment has attracted less interest in central London due to yielding smaller
returns than Build for Sale. As the demand for rental properties grows and rental yields increase, some investors are eyeing PRS with more interest.
The proposed letting of Morley House will enable The Crown Estate to preserve their estate and acquire income from rent while remaining responsive to future market needs. Building residential accommodation into the development also enables The Crown Estate to meet Westminster City’s mixed use planning policy and provide much needed housing.
Completion is due at the end of 2019.
About us: waltonwagner was established six years ago by Jane Wagner and Nick Walton. We are a company who love property. We love project managing, designing, developing and dreaming all things property. We love the big picture and the devil you find in the detail. We love the fact that our clients come to us to achieve things they never thought possible with their buildings and that we are valued for our sensible, practical advice and guidance.