Trocadero - London, London Trocadero to get retail revamp
Date: 21 Feb 2014
London Trocadero to get retail revamp
One of the West End's best known landmarks, The Trocadero Centre, is to be transformed into a new retail destination as part of plans by owner Criterion Capital to transform its holdings in the Piccadilly area.
The first phase of these plans involves the closure of the Trocadero Mall to be replaced with one large retail store, along with a refurbishment of the former HMV store. The new retail units, known as the Trocadero Buildings and offering 16,150 sq ft and 41,885 sq ft of space respectively, are being marketed by Savills.
Criterion Capital plans to incorporate further big box retail units into the site and will shift its focus towards creating a retail destination that forms a natural extension on Regent Street.
In addition, work has begun on a four-storey hotel to be operated by Accor, to be located on the upper four floors of the Trocadero.
Asif Aziz, CEO of Criterion Capital, comments: "Following the success of the Crown Estate in re-asserting Regent Street as a flagship retail destination, we are seeing a ripple effect into Piccadilly. This presents us with an opportunity to reposition the Trocadero in response to growing interest from national and international retailers."
Anthony Selwyn, head of Central London Retail at Savills, adds: "Just as Regent Street has re-emerged as one of London's most attractive destinations, there is a clear opportunity to replicate this in and around Piccadilly. These prominent sites offer a rare opportunity for a foothold in this thriving part of the West End."
With some 30 million people passing through the centre each year, the new retail units are expected to attract strong interest from fashion, sports, confectionary and lifestyle brands.
By Harry Hanscomb
The Trocadero Centre in London. Photo by Masterman.