The Crown Estate has unveiled the next phase of its West End development pipeline – the largest ever in its history – with two major developments, at 10 Piccadilly and 21-29 Glasshouse Street.
10 Piccadilly. Credit: Cityscape and Piercy & Company
Together, the schemes will comprise 169,300 sq ft of new office, retail and hospitality space in the heart of London.
At 10 Piccadilly, The Crown Estate will deliver a 90,800 sq ft mixed-use development of the grade II-listed building. Facing on to Piccadilly Circus, 10 Piccadilly was the original Swan & Edgar department store and was then home to Tower Records in the 1980s.
The refurbishment of the building will comprise 62,700 sq ft of prime office space, alongside a 26,400 sq ft hospitality destination across the ground, basement and first floors, and a further 1,700 sq ft of retail space on Regent Street.
At 21-29 Glasshouse Street, The Crown Estate will combine two existing office buildings into one commercial scheme. The retrofit project will provide 63,000 sq ft of workspace and 15,500 sq ft of retail space at basement and ground-floor levels.
21-29 Glasshouse Street (Regent Street View). Credit Cityscape
The projects mark the latest step in The Crown Estate’s long-term vision for its 10m sq ft London portfolio as the organisation targets up to £5bn in investment over the next decade.
“These developments mark the next step in our long-term vision for the West End, redeveloping historic buildings to reinvigorate an equally historic place,” said Kristy Lansdown, managing director of development at The Crown Estate.
“By taking an estate-wide view, we can invest in the places and experiences that help the West End succeed on the global stage – places such as 10 Piccadilly and 21-29 Glasshouse Street, where we are sensitively bringing heritage assets into their next chapter, creating outstanding new office, retail and hospitality spaces for London.”
The announcement of this latest phase in The Crown Estate’s development pipeline comes after the 124,000 sq ft office redevelopment of One Hanover Street, fully pre-let to Ares Management.
The monarchy’s legacy property company reported that its operating profits for financial year 2025-26 were up by 5% to £370m. The Crown Estate returned £487m to the Treasury for public spending during the period, while its property portfolio valuation increased to £14.5bn and net asset value grew to £16.7bn.
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