The Crown Estate has acquired the headlease of 100 Regent Street from a vehicle managed by Federated Hermes Real Estate for £95m.
The vehicle is jointly owned by a client of Federated Hermes Real Estate and Canada Pension Plan Investment Board.
The Grade II-listed building comprises more than 53,000 sq ft of prime retail and office space and The Crown Estate already owns the freehold as part of The Regent Street Partnership – its joint venture with Norges Bank Investment Management.
The JV partners intend to enhance the office accommodation, curate the retail offer and improve the building’s environmental performance.
Dominic Packwood, investment manager at The Crown Estate, said: “This important acquisition marks a key step in delivering our long-term vision for Regent Street and the wider West End. Direct ownership of 100 Regent Street will help us to realise our ambitious plans across our portfolio, including the delivery of our development pipeline and public realm investment, alongside our wider goal to create a vibrant, inclusive and sustainable West End.”
Savills acted for The Crown Estate.
