Piccadilly Buildings

Reimagining historic London architecture

Thepiccadillybuildings.com

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Piccadilly Buildings comprise an extensive 187,100 sq ft office, retail and restaurant estate located in the heart of St. James’s in London’s West End. Situated on Piccadilly and Jermyn Street, the buildings are home to over 75 occupiers, including Cath Kidston’s UK flagship store, Richoux, New & Lingwood, Alfred Dunhill and the renowned Wiltons restaurant.

The original buildings date from the early twentieth century with four of the seven buildings being Grade II listed, including the centre piece of the estate, the Thrale Jell designed Piccadilly Arcade, with its grand entrances linking Piccadilly and Jermyn Street.

The properties were purchased for their short to medium term asset management potential and the longer term redevelopment opportunity that the site offers.

Piccadilly Buildings are located opposite the southern end of Old Bond Street and immediately opposite the Royal Academy of Arts. Fortnum and Mason, The Ritz and BAFTA are all close by as are Piccadilly Circus and Green Park Underground Stations.

1900s to 1960s

Build

West End - South

Location

187,100

sq ft

Floors

"54 Jermyn Street is the most agreeable office accommodation that I have rented over the course of my 40 years in business. Its location is excellent, the finishes are of the highest quality and building management is helpful and responsive. The combination of all of these factors is a content and well satisfied tenant."

Sir Mick Davis CEO, Beacon Rock Ltd, occupier at 54 Jermyn Street

Standout features

Reinvigorating historic buildings

When purchased, it was clear from the outset that the buildings needed some ‘TLC’, especially the listed arcade and the common parts of the office buildings. The Arcade was in a poor condition with many empty units and its impressive Edwardian features hidden behind poorly executed refurbishments.

We carried out a detailed yet sympathetic programme of works including a discrete lighting design to bring back the arcade to its former glory. The result of the refurbishment was the arcade emerging from being a dark and unloved ‘cut through’, to an architecturally impressive destination venue for high end boutique shops.

Market appropriate refurbishment

Using our property Asset Management skills, we were able to quickly assess the condition of the common parts and empty office units and prioritise the level of refurbishment, on a unit by unit basis, in order to give the best returns.

Varying the office specifications meant the units were not competing with each other and reduced letting voids. Piccadilly Buildings now offers desirable contemporary office space in the heart of St James’s.

Working around existing occupiers

Having a good working relationship with our occupiers is key. With our works at Piccadilly Buildings, we engaged with our existing occupiers extensively before the refurbishment works started and our contracting team had a proven track record of working sympathetically around existing occupiers. Once the works started, communication was continued with weekly newsletters and regular liaison by the contractor to minimise any inconvenience.

"Piccadilly Buildings form part of a prominent and historically valuable area of St James’s. Through asset enhancement and working closely with our existing occupiers, we have created additional value and rental income whilst paying tribute to this history."

James Harrop-Griffiths Portfolio Manager