Shaftesbury begins work on Central Cross, a new 'halo' location for brands in London's West End

Shaftesbury has begun work on a £15m development on Charing Cross Road to create a 48,000 sq ft mixed-use scheme providing a range of new double-height units across up to three floors.  Shaftesbury is creating six retail units in total, ranging in size from 3,000 sq ft to 10,000 sq ft, and seven restaurants ranging from 400 sq ft to 4,300 sq ft.  The development will be complete late spring.

Central Cross has been conceived by Shaftesbury to provide a critical mass of space that meets the requirements of brands seeking a flagship store or restaurant location that will serve as a halo for the UK.  It borders Chinatown to the west and the major thoroughfare of Charing Cross Road to the east, and is located where Covent Garden, Soho and Leicester Square meet. The site is opposite Leicester Square Tube station and a short walk from Tottenham Court Road Crossrail station, which is set to become the busiest transport hub in the West End when the service commences in 2018.

Commenting on the news, Sam Bain-Mollison, Group Retail Strategy and Leasing Executive at Shaftesbury, said: “Central Cross is a response to the trend for fashion, lifestyle, technology and innovative product brands to open key stores in stronghold cities throughout the world.  Central Cross’s position in the heart of London’s West End provides brands with a highly visible and well-connected location frequented by large numbers of mobile, international, technology-focused and brand-aware Millennials.

“We are already experiencing strong demand from a number of retailers seeking to create a presence in central London that truly embodies their brand.”

The restaurant element of Central Cross, with elevations to Newport Court and Newport Place, both Chinatown London gateway streets, will create seven new restaurants, three with external seating, a first for Chinatown London.  The units will vary in size, offering a range of opportunities for both home-grown and international operators.

Julia Wilkinson, Portfolio and Group Restaurant and Strategy Executive at Shaftesbury, added: “Together with the retail line-up, Central Cross’s curated mix of new Chinese and East Asian concepts will attract a cosmopolitan consumer, providing an opportunity for operators to connect with a young, multi-cultural, foodie audience throughout the day and into the evening, seven days a week.

Coinciding with the announcement the development of Central Cross is underway, Shaftesbury has confirmed the appointment of Nash Bond and BGP as the retail agents, with DCL representing Shaftesbury on the restaurants.