Portfolio

Crosstree Portfolio: 42-48 Dover Street

43-48 Dover Street

  • Date Acquired: July 2013
  • Size: 52,000 ft²
  • Sector: Office / Retail / Residential
  • Status: Planning
  • Key Tenants: Landmark plc, SOCO plc, Stoneharbour, Renshaw Bay

43-48 Dover Street was acquired “off-market” in July 2013. It is a 52,000 ft² site that includes office, residential and commercial space. It is a prime asset in its own right, but its true significance is that it sits adjacent to One Berkeley Street. With additional area gains, we have unlocked a one acre site with the potential for a scheme approaching 300,000 ft².

By combining Dover Street with its neighbour we have a rare Mayfair freehold development opportunity, not least because the site lends itself to a variety of uses, including super-prime residential, hotel, offices and prime retail with significant frontage across three main streets.

Given the iconic location, just opposite the Ritz we conducted an architectural competition for what we term the Berkeley Estate, which attracted some of the field’s most stellar names. We choose British star David Adjaye to work on the design who is currently behind some of the most significant projects across the world including the new Smithsonian Museum of African American History. In February 2015 we submitted our planning application for the site to Westminster City Council.