Venue: CBRE Henrietta House W1
Date: 18th June 2013
Time: 3.30 for 4.00 ’til 8.30 pm (jointly with SPR)
- David Shaw, The Crown Estate
- Richard Dickinson, New West End Co.
- Ian Lindsay, Crossrail
- Will Bax, Grosvenor
- Stewart Colderick, CBRE
- Jonathan Reynolds
Thanks to everyone for making this event such a huge success, especially our excellent speakers and the SPR for co-hosting. Over 90 delegates attended to find out more about the future of West End shopping and impact of Crossrail.
Download Ian Lindsay’s presentation, “Crossrail – driving London development”
Download Richard Dickinson’s presentation Crossrail – Capital Management
David Shaw did not use any slides
Download Will Bax’s presentation, “Mayfair and environs: the wider impact of Crossrail”
CROSSRAIL: THE RETAIL OPPORTUNITY
Crossrail is the largest civil engineering project in Europe. First phase Crossrail completion is scheduled for 2018, barely one rent review away. The scheme is unique: it is the first time that a main-line rail network on this scale has been routed through a mature international city centre the size of of Central London. The ease and quality of Central London access will be irrevocably altered. Crossrail, as a result, is poised to trigger the largest wave of central city shops renewal seen in the UK for a generation.
West End pedestrian flows will change; pitches will change too. Some tertiary property will become secondary and some secondary, prime. Development and stock renewal activity will gradually ripple out of the West End’s main retail drags, repositioning shopping in peripheral areas both north and south of Oxford Street. Associated development activity has already begun. Many of the best sites (and best occupier opportunities) have already been snapped up, but there is a great deal still to play for.
The speakers at this important SLA/SPR seminar will focus on the likely initial retail impacts of this giant transport project; the opportunity areas and how they see development activity and stock renewal evolving due to Crossrail.
The seminar in arranged in two parts. The first part addresses the project itself together with the New West End Company plans for exploiting the Crossral opportunity for the benefit of retailers and shoppers. The second half focuses on the retail property market implications from the perspective of the West End’s two largest landed-estates: The Crown Estate and Grosvenor, both leading players in London’s West End property market.
3.30pm registration and coffee (CBRE, Henrietta House)
4.00-4.10 Jonathan Reynolds (Chair), Said Business School, University of Oxford
4.10- 4.40 CROSSRAIL – THE PROJECT
Ian Lindsay, Land and Property Director, Crossrail
Crossrail is a £14.8bn project. The Crossrail route will pass through 37 stations and run 118 km (73 miles) from Maidenhead and Heathrow in the west, through new twin-bore 21 km (13 miles) tunnels to Shenfield and Abbey Wood in the east.When Crossrail opens it will increase London’s rail-based transport network capacity by 10%, supporting regeneration and cutting journey times across the city. Crossrail is being delivered by Crossrail Limited (CRL). CRL is a wholly owned subsidiary of Transport for London. Crossrail is jointly sponsored by the Department for Transport and Transport for London. Ian’s paper will address progress on the project as well as address the pivotal associated station developments at Tottenham Court Road and Bond Street.
4.40-5.00 CAPITAL MANAGEMENT
Richard Dickinson, CEO, New West End Company (NWEC)
The New West End Company is the guardian of London’s West End shopping streets. Richard outlines NWEC plans for dealing with the influx of additional shoppers that Crossrail will bring to London’s burgeoning central shopping area.
5.00-5.20 Coffee Break
5.20-5.40 EAST AND WEST FROM REGENT STREET
David Shaw, Head of Regent Street Portfolio, Crown Estate
Mix change managed by Crown Estate has propelled Regent Street from secondary backwater to the West End’s premier upscale shopping pitch in little over a decade. Development activity is now consolidating Regent Street’s position as one of the most sought after flagship retail locations in London. David looks at the stock renewal set to flow from Crossrail in areas east and west of Regent Street and how he sees it affecting the West End in the future.
5.40-6.00 MAYFAIR AND ENVIRONS: THE WIDER IMPACT OF CROSSRAIL
Will Bax, Grosvenor
Mayfair is the luxury heart of the West End, containing the capital’s most exclusive shops, hotels, restaurants and clubs. Grosvenor is synonymous with Mayfair, both London’s largest landed-estate and the leading player in the West End’s luxury shop property markets. The new Crossrail station entrances serving Mayfair will be in Hanover Square, adjacent to Regent Street, and in Davies Street close to the existing Bond Street tube station. New office development is occurring above both new station entrances. Major area/stock renewal is planned for Hanover square and New Bond Street. Will explores the ripple effect of luxury shop demand as upscale retailers seek space in the period Mayfair shopping stock and how Crossrail will boost shopper flows south of the new stations, strengthening existing pitches.
6.00-6.30 Q&A (Stewart Colderick moderating)
6.30-8.00 Drinks/ networking.
Ian Linsay, Land & Property Director, Crossrail
As Crossrail’s Land & Property Director Ian is responsible for acquiring all the land and rights necessary to build the Europe’s largest infrastructure project, creating commercial value from over station developments to help fund the project, designing public realm improvements that will improve the setting of Crossrail stations, as well as safeguarding the existing line of route potential to deliver extensions to Crossrail/Crossrail 2.
Ian is a Chartered Surveyor and urban regeneration specialist with a background in delivering mixed-use property development solutions in the public and commercial sectors. Prior to joining Crossrail Ian spent five years at Network Rail taking forward the re-development of the main London and regional stations in partnership with developers – e.g. Cannon Street, the Shard at London Bridge and the re-development of Birmingham New Street station.
Ian also helped establish Solum Regeneration Ltd – Network Rail’s station development joint venture with Kier Property, acting as a Board Director.
Will Bax MRICS, is responsible for the delivery of portfolio strategy and financial performance across Grosvenor’s London portfolio. Prior to taking up his current role Will was responsible for running all of Grosvenor’s investments in Mayfair, for which he continues to have a strategic overview as part of his wider role. He is extremely well versed on the Mayfair retailing environment and will be discussing his thoughts on the Crossrail effect.
Prior to this he worked for Grosvenor’s Fund Management business in Paris, where he was responsible for asset and portfolio strategy across the European funds before returning to London in 2011.
Will sits on the New West End Companies Operations Board, is a member of the interim steering group for the Mayfair Neighbourhood Forum and is involved in various other industry bodies.
Jonathan Reynolds is Academic Director of the Oxford Institute of Retail Management and Associate Dean at the University of Oxford’s Said Business School.
A geographer and planner by background, he now works with students of marketing and retailing of all ages and leads applied research projects on the sector internationally.
He is the current director of the longstanding Oxford Retail Location Analysis workshop, which last ran between 8-10 April, 2013.
To reserve your place please email firstname.lastname@example.org