SHAFTESBURY LOOKS TO ACCELERATE RECOVERY WITH AMBITIOUS PLANS FOR ITS OFFICE PORTFOLIO

Leading property group announces two significant new refurbishment projects in Carnaby, along with imminent opening of landmark building

As workers return to London’s West End in growing numbers, and with the imminent opening of the long-awaited Elizabeth Line, Shaftesbury, which owns and manages a property portfolio spanning London’s liveliest districts of Carnaby, Seven Dials and Chinatown, announces it will be redeveloping two prime locations to create over 27,000 sq ft of new office space.

The first, a redevelopment of 5-7 Carnaby Street, will create 13,000 sq ft of new office space in the heart of Carnaby, one of the West End’s most iconic locations. The scheme, which will be completed early next year, will deliver high quality, Grade A office space, in the form of an extension and comprehensive refurbishment of the 3rd floor, and construction of a new 4th and 5th floor.

A second redevelopment on Kingly Street, renowned for its lively independent hospitality scene, will see nearly 14,500 sq ft of enhanced office space created, along with over 5,000 sq ft of restaurant space on the lower floors. This will be achieved by combining and reconfiguring 2-4 Kingly Street and 3 Kingly Court.

The Carnaby Street scheme will feature a substantial living wall façade and both schemes will have exclusive roof terraces with green spaces, boosting biodiversity, mitigating air pollution and contributing to urban greening.

The announcement of the two new schemes comes ahead of the opening of Shaftesbury’s refurbishment of 72 Broadwick Street, located at the gateway between world-famous Carnaby Street and the heart of Soho. All of the office space that makes up a significant part of the mixed-use space is under offer. The office occupiers will become part of this truly mixed-use building, which will also house a restaurant, gym and residential space, and will have exclusive access to two outdoor terraces, including a landscaped 6th floor roof garden.

In line with its commitment to becoming a net zero carbon business by 2030, Shaftesbury is focusing its development efforts on refurbishment and future-proofing its West End heritage buildings, minimising embodied carbon associated with new construction while improving the energy efficiency of its portfolio. Shaftesbury has also committed to becoming carbon neutral for its own corporate emissions by 2025.

Isabel Thomas, Head of Offices at Shaftesbury, adds:

“These developments are a great example of the Shaftesbury approach and vision for our villages, which is about retaining the aesthetics and vibrancy of the area, while continuing to invest and enhance our places and spaces.

“Physical workplaces are and will continue to play an important role in London’s recovery. In this climate, office style and location is key to attracting talent. Working in the West End is as much about the local experience as the space, and workers are placing more value than ever on their surroundings. Our vibrant village environment, with its unrivaled mix of shops, restaurants and bars and connectivity, which is only set to increase with the scheduled Crossrail opening, gives us an important differentiating factor.”

72 Broadwick will open its doors this spring whilst the latest schemes, 5-7 Carnaby Street and 2-4 Kingly Street, are scheduled to complete in 2023.

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For further information:

MHP Communications 020 3128 8193

Hannah Walsh / Charles Hirst / Angus Reynolds

Notes to Editors

Shaftesbury owns and manages a 16 acre property portfolio in the liveliest parts of London's West End.  The portfolio comprises of restaurants, cafés, pubs and shops, extending to apartments and offices in the highly popular, sought-after and prosperous locations of Carnaby, Seven Dials and Chinatown, together with substantial ownerships in East and West Covent Garden, Soho and Fitzrovia. 

All our properties are close to the main West End Underground stations, and within ten minutes’ walk of the two West End transport hubs for the Elizabeth Line, at Tottenham Court Road and Bond Street.

@shaftesburyplc www.shaftesbury.co.uk