Plans Submitted for £450m St James’s Market Transformation

September 13, 2012

The Crown Estate has submitted four planning applications as part of a £450 million redevelopment plan to transform a major part of St James’s, and create nearly 340,000 ft2 of mixed use accommodation between Regent Street and Haymarket.

The lead scheme, known as St James’s Market, is a commercial redevelopment of two blocks to create 211,000 ft2 of office and 45,000 ft2 of retail and restaurant accommodation and includes world-class 21st century architecture and preserved historic facades, together with a traffic free public realm, which will bring the area back into line with the quality of historic St James’s. Davis Coffer Lyons is exclusively advising The Crown Estate on its A3 restaurant and leisure accommodation at St James’s.

St James’s Market, a scheme by Make Architects, is a redevelopment of 14-20 Regent Street and 52-56 Haymarket. The Haymarket block would be replaced, whilst the Regent Street block would be redeveloped behind both retained and new façades. A new amenity for the St James’s village will be created with a revitalisation of a 24,000 ft2 public area and the creation of a 10,000 ft2 pedestrian square with public art.

James Cooksey, Head of St James’s Portfolio said: “Our investment in St James’s builds on the area’s status by providing a first rate destination amenity space for those living, working and visiting the area. Together with our Gateway scheme and investment in Trafalgar House and British Columbia House, it demonstrates the major progress we’re making in delivering on our St James’s strategy.”

Commenting on the proposals, Alastair Smart, Head of Development said: “St James’s Market is perhaps the most significant development we have ever undertaken and builds on the two schemes currently on site as part of our investment in St James’s and Regent Street to provide modern space for global businesses.”

The scheme takes its name from the now lost area of St James’s Market, which between the 17th and 19th centuries offered a spacious street of inns, entertainment, and a busy hay and straw market, attended by 1,300 hay and straw carts a month. In the early 19th century when John Nash redeveloped Regent Street this historic area was lost.