oyal London Asset Management Property has secured planning approval for the next phase in its Mayfair Quarter project, its flagship mixed-use scheme in central London. A major redevelopment, Mayfair Quarter promises to transform the destination London neighbourhood, unlocking new public realm and thoroughfare, improving green space, and delivering improved retail and F&B space.
Mayfair Quarter is a 1.3 acre site at the heart of London’s prime retail district, bounded by New Bond Street, Brook Street and Avery Row. Royal London Asset Management Property’s plans will improve the visitor experience of Mayfair, unlocking two historic courtyards at White Lion Yard and Lancashire Court. With the addition of green walls and landscaping, the improved squares will provide quiet, calm spaces in the heart of the city. The plans will also deliver space for a new restaurant as well as improved pedestrian access throughout the scheme, enhancing the area’s connectivity.
The approval for this next phase of the scheme follows the arrival of the private members’ club Soho House in Lancashire Court in 2024 and the ongoing retrofit of the former Victoria’s Secret flagship store, which the investor is dividing into three separate units in line with shifting retail market demands.
Retail forms an important component of Royal London Asset Management Property’s portfolio, exemplified by the investor’s recent 50% purchase of the centre:mk shopping centre in Milton Keynes.
As long-term investors in Mayfair, Royal London Asset Management Property has already taken significant steps to revitalise the central London shopping district as part of Westminster Council and Someday Studios’ ‘Meanwhile On’ project, driving visitors to Brook Street for the largest ever fashion rental pop up from By Rotation as well as contemporary boutique brands such as Hades and Kindred of Ireland.
Moira Hamilton, senior asset manager at Royal London Asset Management Property, said, “Mayfair is a vital part of central London’s ecosystem, and a project of this scale in the area is rare. We are excited to continue our work reinvigorating one of London’s major visitor destinations and ensuring it meets the demands of contemporary consumers.
“Mayfair Quarter plays an important role in our portfolio and our investment in it demonstrates our confidence in the central London retail market. Mayfair and the West End in particular have seen strong rental growth in the past five years, and we looking forward to creating vibrant, high-quality retail spaces that attract leading brands and independent businesses alike.”
