Contents | Strategies for Regent Street

The Regent Street Strategies

The Crown Estate does not believe in a masterplan for Regent Street. A living, breathing, working city is not something which conforms to a blue print. The best approach is to set out a series of strategies which will help guide and assist this part of the city to evolve and develop so that it continues to meet the aspirations and expectations of the people that it serves.

With this in mind, a number of strategies had been produced which will deal with all of the aspects and features of Regent Street reflecting the Vision and values described below. Many of the policies cannot be implemented by The Crown Estate alone. It is recognised that to help and assist of a large number of other organisations and individuals will be required.

The Crown Estate is committed to work with these bodies to assist it in managing and developing Regent Street in accordance with its Vision and its brand values.

The Vision for Regent Street

Introduction

The Crown Estate is a unique body, looking after and enhancing assets held in trust for the Sovereign with its net revenue paid to the Exchequer. Governed by statute, it is neither a government department nor a commercial body. Through sound commercial management The Crown Estate aims to provide significant year on year increases in net revenue and total capital value.

Applying this approach to Regent Street means that The Crown Estate must pay due regard to long term stewardship whilst maintaining and enhancing income generation and capital values. The Crown Estate must invest wisely and its development activity must upgrade the quality of the buildings, as well as improve the overall portfolio. Accordingly, its strategic emphasis is less about merely rectifying problems to building for the future. This is particularly topical as many of the Regent Street leases expire between now and 2010.

To guide its investment programme The Crown Estate has a Vision for Regent Street which has three distinctive but complementary themes. These are:

  • a quality shopping centre;
  • a successful business location;
  • a place for people.

These themes are the touchstone for all the other Regent Street strategies which have been prepared and included in this document.

A Quality Shopping Centre

Regent Street was the first purpose built shopping street in the world. The street was rebuilt in the Edwardian era, largely because the original Nash buildings street had begun to fail to meet the expectations of the shopping public. The redevelopment of Regent Street after the turn of the last Century was driven by a new era of shops and stores which, once again, aimed at reaffirming the area's reputation as a quality retail destination.

As opportunities arise, The Crown Estate seeks to maintain this commitment to providing retail accommodation of the highest quality which will attract international flagship stores, as well as other smaller but distinctive shops which have an aspirational appeal to all shoppers who comprise overseas visitors, as well as UK residents.

The retail strategy will ensure that there is a tenant mix which meets this requirement, as well as the Regent Street brand values described below.

The retail strategy includes the following:

  • introduction of new larger units to attract additional anchor tenants;
  • a coherent tenant mix within the quality end of the sector;
  • a greater number and diversity of catering outlets, particularly away from the Regent Street frontages;
  • to differentiate the street from Oxford Street and Bond Street;
  • reduce the presence of uses which do not contribute to the Regent Street aims.

In addition to these issues identified above, continued consideration will be given to the culture of customer care, in conjunction with the New West End Company.

A successful business location

Whilst Regent Street is best known for its shopping, it also provides a prestigious address to a large number of businesses and enterprises in the office sector.

The Crown Estate is committed to maintaining and upgrading the quality of the office stock. The Crown Estate will provide accommodation for a full range of tenants.

The Crown Estate is therefore committed to:

  • improving the range of choice in unit sizes from small service suites to large-scale H.Q. buildings
  • to improving the management of the office portfolio

Place for People

The most distinctive feature of Regent Street is its architecture and historic character. However, this can only be fully appreciated if the public is given an opportunity to relax and enjoy the surroundings.

The Crown Estate therefore, has resolved to invest in the public realm so as to attract more people to visit Regent Street and make a more pleasurable and memorable experience for those that do.

To support this, The Crown Estate will use all measures within its power to:

  • reduce intrusive and polluting nature of traffic
  • make continued efforts to improve the environmental quality of the spaces in between buildings, as well as to conserve and enhance the buildings;
  • create measures which will increase the vitality of human activity;
  • allow for public transport improvements and;
  • pursue opportunities to increase permeability.

Brand Values

The Crown Estate has spent much time and research in trying to understand what Regent Street means to those who live, shop and visit the area. The results of this research is that Regent Street epitomises a set of values which comprise:

  • quality;
  • heritage;
  • style;
  • success.

Regent Street is a key destination and must be renowned as a special place by business and customers. The environment must provide comfort and safety to all residents and visitors. Regent Street must also continue to provide for a mixture of contrasts, traditional and contemporary, modern business and retail offers.

Regent Street must remain, in essence, "Always Different" and "a place where time is well spent."

 

Central Contact Points for Strategies