Forsters acts on redevelopment of Cafe Royal Site
Forsters continues to act for The Alrov Group in relation to the major redevelopment of the Café Royal Site on Regent Street, London, W1 to include the redevelopment of a major new hotel project with substantial retail units fronting Regent Street. Pre-lets to Nespresso and Lotus have been concluded at rents of £875,000 and £550,000, (respectively).
A full range of services has been provided by Forsters (including construction and hotel advice) in relation to the redevelopment of the site as a landmark central London hotel and retail scheme. The hotel will be retained and managed internally by the client following practical completion of the redevelopment (scheduled for April 2012).
Forsters have been fully involved in relation to all procurement matters for the project which has taken the form of construction management and have also advised in relation to the implementation and interpretation of the overarching development agreement with the Crown Estate.