Commercial property space in London has become a much sought after commodity as the capital continues to attract increasing volumes of business custom both domestically and from overseas. This has led to a boom in development and redevelopment schemes, with construction firms looking to create retail, office and manufacturing space within the confines of the city limits.
The latest project to get off the ground is a continuation of the extensive regeneration of Regent Street. The site at Quadrant 2 South is part of a £1 billion regeneration scheme spearheaded jointly by The Crown Estate and Norges Bank Investment Management.
This particular aspect of the overall scheme will see Quadrant House and 7-9 Air Street, both Grade II listed properties, redeveloped behind retained facades to update the inside space while still keeping the traditional exteriors for which Regent Street is well known. Developers will redesign the interior to provide a range of modern, high quality office space in time for the completion deadline of early 2015.
Yet as with many development projects currently ongoing in London, sustainability and energy efficiency are key concerns for the architecture team led by Barr Gazetas. Project manager Buro Four and planning consultant CBRE have examined the green options for the site carefully and believe the completed space will now produce 40 per cent less carbon emissions than the equivalent space in a new build would.
In order to achieve this, the building will utilise a molten carbonate fuel cell to power operations – the first example of this technology being used in the UK. Furthermore, Quadrant 2 South will incorporate popular green technologies such as photovoltaic panels to further contribute towards energy efficiency targets.
Head of development at The Crown Estate, Alastair Smart, says; “This project is a great example of our commitment to high quality, sustainable development in our ongoing 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.”
The Regent Street programme first began in 2002 and has delivered 12 large scale redevelopments to date. Quadrant 2 South’s closest neighbour Quadrant 3, for example, delivered 270,000 square feet of mixed use space costing £400 million and currently boasts Telefonica Digital and Al Gore’s Generation Investment Management as two of its most prominent office tenants.
The Crown Estate has been heavily involved in the project from the start and aims to build upon the street’s business foundations in order to create further mixed use space for a range of businesses. It is currently working on two other major development projects on the site, known as W4 and W5, which will altogether provide more than 250,000 square feet of flagship retail and office space upon completion.
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