Asset Enhancement/Development Consultancy/VP Strategy

Spectrum were instructed in Autumn 2007 by The Crown Estate to develop an Asset Enhancement Strategy for the Block of properties bounded by Piccadilly, Regent Street, Jermyn Street and Eagle Place.

Following a comprehensive review, Spectrum recommended that the Clydesdale and Barclays Bank Buildings should be retained and the remaining six buildings redeveloped. This recommendation was accepted.

Spectrum were then appointed to the role of Development Manager with a Brief to prove Feasibility and then to take the proposed development through both the Initial Design & Planning Stages.  Feasibility was proven in May 2008.

Spectrum then led the Team through Initial Design and Planning Stages, culminating in a Resolution by Westminster City Council’s Planning Sub-Committee on 6^th August 2009 to grant Detailed Planning Consent for a mixed use development comprising offices (7,855 sq m), retail (10 units, 2,558 sq m) and residential (15 apartments 3,439 sq m).

Spectrum subsequently led the Section 106 negotiations and the grant of Detailed Planning Consent was received on 12^th February 2010.  This development is currently under construction.

Aerial Photo of the original Block

Client: The Crown Estate
St James’s Gateway
Existing Buildings: 2,233.3 sq m (24,040 sq ft)
Proposed  Development: 13,852 sq m (149,103 sq ft)

Another area of expertise relevant to our work with Developers is Vacant Possession Strategy.  We are currently working on another two buildings with development potential and using our Landlord & Tenant skills to ensure vacant possession by the target development date.