The Crown’s Estate is pressing ahead with the redevelopment of Duke’s Court in St James’s.
The plans, designed by John McAslan and Partners, will be delivered by Skanska in a £32m contract.
The scheme, expected to be worth around £100m when completed, is part of a £500m wider investment in the area. The redevelopment will create 35,000 sq ft of new modern office accommodation, from the first to sixth floor, and 11,000 sq ft of flagship retail and restaurant space at ground and basement levels.
Construction will commence in March 2017 and is expected to complete in the spring of 2019.
James Cooksey, Director of Central London at The Crown Estate said:
“We’re committed to re-establishing St James’s as world-class business and lifestyle destination. Such an investment reflects our belief in the fundamentals of London’s West End, notwithstanding the near term market outlook, and its continued performance over the long term through creating fantastic buildings that stand the test of time.”
Steve Holbrook, Managing Director of Skanska, said:
“We’re delighted to have secured this mixed-use development in London. We have worked closely with members of The Crown Estate’s delivery team to develop a cost-effective solution and look forward to working with The Crown Estate. This is our third contract win in the West End this year.”
As part of the same project, six new apartments are proposed at 33 Bury Street, restoring the upper floors of the building to their original residential use.
The Crown’s Estate, which owns half of the buildings in St James’s, recently completed the £400m St James’s Market Redevelopment, delivering office space, seven restaurants and five stores.