Hillier Parker - London, Regent Street, Swallow Place
Date: 04 Dec 1997
The Crown Estate, advised by Hillier Parker, have let ahead of completion the four refurbished office floors of 7 Swallow Place, overlooking Oxford Circus and Regent Street, to the GWR Group - the parent company of Classic FM Radio.
The prime site letting is at an annual rent of £675,000, on a 13 year lease without break.
Classic FM is moving from its current premises in Camden, North London so that the station's existing in-house sales team and GWR's national sales operation are able to work alongside each other and in close proximity with the London advertising agency world.
Ralph Bemard, Classic FM and GWR Group Chief Executive, said: "This relocation puts the Group's national operations, together with the UK's most listened to national commercial station, at the heart of the media buying world which will greatly benefit the company in the future."
Tim Cameron-Jones, of Hillier Parker, said: "This letting demonstrates the increasing attractiveness of this area for offices, particularly among media-related companies which are pushing out the traditional boundaries of Soho in their search for higher quality accommodation.
"These businesses are finding that the Regent Street area provides an excellent office environment with the added bonus of high quality shops and the new restaurant quarter in Heddon Street."
7 Swallow Place is a high quality office refurbishment designed by Hillier Parker Building Consultancy for the Crown Estate. The offices are behind a classical Portland stone facade and with a new double height glazed entrance in Swallow Place. The refurbished offices comprise 2,456 m² (26,440 sq ft) over four floors.
Built in 1925 as a department store, the building's high profile retail outlets front Regent Street where the ground and first floors are occupied by Benetton's London flagship store. French Connection UK also occupy the ground floor at the Princess Street end of the building.
The office letting is the final phase of a substantial refurbishment programme, representing more than six years active involvement by Hillier Parker with this particular building.
Hillier Parker manages the whole of the north side of the Crown Estate's Regent Street portfolio, from Piccadilly. In 1994 the long lease on this building was bought back by the Crown Estate and a major refurbishment programme got underway.
Hillier Parker re-negotiated the leases with Benetton and French Connection.
Hillier Parker are the letting agents, managing agents and contract administrator for the Crown Estate. Graham Marsden advised GWR
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