The Crown Estate has acquired the headlease of the Piccadilly Regent Estate for an undisclosed price.
The estate comprises a 283-bedroom hotel, trading as The Dilly, within a Grade II listed building, alongside 15 retail and hospitality units and a separate office building.
The Crown Estate already owns the freehold of the site as part of The Regent Street Partnership – its longstanding joint venture with Norges Bank Investment Management (NBIM).
Charles Owen, head of portfolio management – Regent Street, at The Crown Estate said: “This acquisition marks the latest step in our long-term strategy to enhance our London portfolio. Combined with our recent acquisition of the headlease of 100 Regent Street and significant amounts of development activity that we are undertaking nearby, this deal will help us to deliver our placemaking, financial and environmental ambitions for Regent Street.”
