The Crown Estate is planning to sell some of its central London holdings in order to reinvest the money in its core Regent Street and St James’s holdings.
The company, which owns all of the freeholds on Regent Street, wants to invest the money in developing properties on the world-renowned shopping street.
It is also planning on investing in St James’s, where it has a significant proportion of its London properties, over the next five years which could involve both buying property and redeveloping assets it already owns.
In November last year Property Week revealed that the Crown was planning to overhaul 500,000 sq ft of shops in its St James's holdings. (21.11.08).
The Crown Estate, formerly the monarch’s property portfolio, is also currently redeveloping the Quadrant at the south end of Regent Street into a 1m sq ft mixed use scheme.
Its urban portfolio, the majority of which is in London’s West End, accounts for 75% of the value of the entire estate. The Crown Estate’s profits are paid into the Treasury.