How The Portman Estate continues to evolve Marylebone

Covering 110 acres in London’s West End, The Portman Estate has a history of reinvention spanning almost 500 years. Throughout this evolution, innovation has powered the development of a commercially successful neighbourhood. Moving forward, our longstanding values of creating a sustainable environment and putting people at the forefront of places are now more important than ever in safeguarding Marylebone’s future.

A hands-on approach

In recent years, we have been actively buying back headleases and taking control of our assets, enabling closer management of our Marylebone property portfolio. Direct refurbishment and development, as well as partnering developers such as Derwent London, Almacantar and Native Land, are central to our vision of transformation across the estate. We are currently focusing particularly on opportunities in our prime commercial areas, including Marble Arch, Edgware Road, Baker Street and Oxford Street.

Taking a hands-on approach accelerates regeneration that will anchor these areas, as well as the wider estate, as fundamentally important locations for the West End’s growth. The estate’s recent mixed-use BREEAM Excellent development at 1-4 Marble Arch is a milestone in the regeneration of this important intersection of Oxford Street and Edgware Road, complementing Almacantar’s neighbouring development of Marble Arch Place. Behind a retained art deco façade, the office accommodation, known as One Great Cumberland Place, totals 55,000 sq ft and offers modern interiors to attract top-tier occupiers and serve the wider estate’s stakeholders.

At this property, flexible workspace providers x+why have signed a 10-year management agreement to operate high quality workspaces for purpose-driven businesses and workers. Also operated by x+why, and located on the eighth floor, is The Orchard, a new business-led club space and amenity for both the building’s and the estate’s wider commercial customers, available on a membership basis. Traditionally, such top floor space would have been let to a single occupier, as the most desirable accommodation in the building. Instead, we are providing it for the greater benefit of the estate’s commercial customers as a key part of our strategy to innovate and be the landlord of choice in the West End.

Retail space is also incorporated into the development as One Marble Arch, a 20,000 sq ft unit over ground, lower ground and first floors. We are delighted to have recently agreed terms here with Moco Museum, a modern contemporary art museum founded with the mission of attracting broader and younger audiences. This site will become Moco’s third location, alongside Amsterdam’s Museumplein and Palacio Cervelló in Barcelona. Moco Museum will strengthen Marble Arch as a destination, anchoring the west end of Oxford Street and complementing other nearby cultural uses such as Frameless, the immersive art experience, at 6 Marble Arch.

Sustainable stewards

A key responsibility as long-term stewards of Marylebone is providing a sustainable environment. Successful action on sustainability and generating positive change for a better future relies on collaboration.

In 2020, we partnered the charity and social enterprise, Bioregional, to implement its environmental framework for the estate. One Planet Living delivers a holistic structure to meet net zero carbon targets by 2040, as set out by Westminster City Council to safeguard the West End community.

A year ago, our commitment to ethical practices was recognised as we became the first B Corp-certified estate in the UK. Joining a movement of trailblazing global businesses, B Corp demands the highest standards of corporate social and environmental leadership. Achieving B Corp demands rigorous inspection and demonstrates our responsible stewardship. Reassessment every three years commits us to a future of exceptional and transparent socio-environmental performance.

Putting people to the fore

The ‘S’ in ESG is an area of B Corp that the estate particularly excelled on. As reflected in our values, we are committed to being a property owner that puts people first. In our own workplace, this means fostering a diverse and inclusive culture. Our Equity, Diversity and Inclusion Committee proactively manage, monitor and develop initiatives. It is hugely important to us that innovation and inclusivity work cohesively in our culture, creating space for expression and progression.

As the estate evolves, we continue to build a neighbourhood that works for everyone, shifting our approach to the changing needs of our community. For residents, businesses and visitors, curating a characteristic and high quality retail offering helps serve our community and creates commercial resilience. Over the years, we have attracted a distinctive range of brands that are now strongly associated with the estate. For example, the independent operators that make up Chiltern Street represent an exceptionally well-curated location. A blend of heritage brands, contemporary labels and independent restaurants are located on an iconic Victorian red brick street.

By evolving our approach to urban estate management, acting as environmentally responsible stewards and putting people first, we continue to promote the long-term success of Marylebone. As the estate enters the next phase of its transformation, these forward-thinking principles will be fundamental in ensuring the area remains central to the future of the West End and London.