Member Article

Lotus Cars and GAIA to debut at Crosstree’s One Berkeley Street in Mayfair as pre-lets achieved on 60,000 sq ft of offices

Crosstree Real Estate Partners, the London-based private real estate investment firm, has announced the achievement of a series of significant milestones at One Berkeley Street in London’s Mayfair, its landmark development comprising 60,000 sq ft of prime fully refurbished Grade A offices, 20,000 sq ft of flagship retail and F&B space on Piccadilly, and the 181-room ‘1 Hotel Mayfair’. Celebrated restaurant GAIA and Lotus Cars have signed for 70% of the retail space to make their London debuts, while pre-lets have been secured for all the offices.

The London debut of GAIA, a refined taverna concept from Dubai and Monte-Carlo, will be located on the Dover Street corner of the development. Offering exquisite Greek Mediterranean cuisine by chef Izu Ani, the 9,500 sq ft multi-level venue will be one of the most anticipated London restaurant debuts of 2023. Conceptualised by leading interior design firm Sagrada, GAIA London is set to become the brand’s international flagship, with elements that symbolize the sun, the mountains, and the sea. The restaurant will feature a signature Fish Market, with a daily selection of fresh fish and seafood; outdoor seating; an elevated lounge and cocktail bar; curated wine room, as well as iconic members club, NYX, hidden on the lower ground floor.

Lotus Cars is to open its first-ever global store at One Berkeley Street, with the brand signing for 5,000 sq ft in a flagship location at 73 Piccadilly, situated opposite the iconic Ritz Hotel. Completing the series of lettings are pre-lets of the entirety of the office space to major international investment advisory firms, B-Flexion Group, Starwood Capital Group and Eastdil Secured.

The signing of GAIA and Lotus Cars leaves just a divisible space totalling 5,700 sq ft fronting Piccadilly as the only unit available. Handover of the units to the tenants for fitout has commenced, with Lotus expected to open by the end of the year and GAIA in 2023. Handover of the offices is also underway, with occupancy expected to begin by the end of 2022.

GAIA, Lotus Cars and the offices join the European debut of 1 Hotels with the ‘1 Hotel Mayfair’, a mission-driven, sustainability-focused luxury lifestyle hotel to be operated by SH Hotels & Resorts, an affiliate of global private investment firm, Starwood Capital Group. Approximately 20% of the hotel’s 181 guestrooms will be suites located mostly on the newly built eighth and ninth storeys offering views over Green Park. Featuring a flagship restaurant overseen by Executive Chef Tom Sellers, a signature bar and ground floor lobby café, and a bespoke fitness and wellness centre, as well as meeting and event space, the hotel is expected to open in the first half of 2023.

Matt Mason, Partner and Head of Development at Crosstree, commented: “One Berkeley Street is an exemplar of the adaptive re-use of dated buildings to create contemporary, sustainable spaces that retain their character while also meeting the needs of modern occupiers. The development’s location, quality and environmental credentials have created very strong demand in the market, allowing us to achieve significant pre-lets to occupiers that share the development’s ethos. The quality of occupiers confirms One Berkeley Street’s status as a new landmark in London and frame of reference for sustainable re-development.”

The development will also re-open a much-used route between Berkeley Street and Dover Street with the creation of a new pedestrianised public space called ‘Dover Yard’. The cobbled space will include access to the hotel’s restaurant and bar, and a weather-protected open-air terrace for the restaurant. Crosstree will move its offices to Dover Yard at completion.

Nash Bond and CBRE represent Crosstree on the retail lettings, and CBRE acted for Crosstree on the office lettings. The Leisure Partnership and Robert Irving Burns represented GAIA and Lotus Cars respectively.

This was posted in Bdaily's Members' News section by Nick Thornton .