The Crown Estate has submitted four planning applications for a redevelopment that will provide 340,000 sq ft of mixed-use accommodation.
The St James’ Market scheme, by Make Architects, is a commercial development of two blocks between Regent Street and Haymarket, creating 211,000 sq ft of office space, along with 60,000 sq ft of new homes and 45,000 sq ft of retail and restauarant space.
Tate Hindle, Paul David & Partners and Burwell Deakins were also involved in the proposals, with CBRE providing planning advice.
Preserved historic facades and a traffic-free 10,000 sq ft public space, complete with public art, aim to “bring the area back into line with the quality of historic St James’s”.
The Haymarket block will be replaced while the Regent Street block will be redeveloped.
Crown Estate says it owns roughly 50 per cent of the buildings in the area, guided by the St James’s Strategies investment scheme.
The residential space included in the plans will involve three associated private residential and affordable housing schemes, ranging from one-bedroom apartments to four-bedroom family homes.
Head of the portfolio James Cooksey 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.”
Head of development Alastair Smart called the plan “perhaps the most significant development we have ever undertaken, which 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 Crown Estate said it had consulted the local community, receiving “strong levels of positive feedback”.