The scheme at Morley House, 314-322 Regent Street, forms part of the Crown Estate’s ongoing £1bn regeneration of Regent Street.
The project will be taken forward in collaboration with main contractor Kier Construction and development manager waltonwagner.
The new building is set to be completed in summer 2020 and will produce 11,000 sq ft of retail space as well as 44 new residential units which will be available to let.
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“Regent Street is one of the world’s top destinations for shopping, business and leisure,” said Bob Dawson, head of the Regent Street portfolio at the Crown Estate.
“Ongoing investments such as Morley House are an important part of our long-term commitment to London’s West End and support our vision to refocus the area north of Oxford Circus around high-quality lifestyle and leisure, complementing the fashion-led offer on the rest of Regent Street.”
The Crown Estate has been redeveloping Regent Street since 2002 and has helped to transform it into a popular retail and leisure destination featuring many global brands.