LREF2016: The public realm is “not for the faint hearted”, according to the Crown Estate’s David Shaw.
Speaking at this year’s London Real Estate Forum, Shaw said that the lead time for public realm projects “far outweighed that of new buildings,” but should not be just a “nice to have” element. It was essential for making the most of new developments and attracting occupiers, he said.
First Base’s Elliot Lipton said that there had been underinvestment in the public realm and that successful placemaking included getting the mix right and “blurring some of the lines to give public realm a softer feel”.
As an example he cited the open front to a building that is part of the Crown’s Silvertown development in east London.
Selfridges’ Sue West said the upmarket retailer saw itself as owning a “civic building”. She added that her firm’s £300m investment into the store and the surrounding area over the next five years would include “amazing environments outside the building that deliver a unique customer experience” that would help stores fight back against the threat of online retail.
“The occupier journey starts in the public realm, not at the entrance to a building,” added Cushman & Wakefield’s Juliette Morgan. She listed street art, independent retailers, sustainability and interactive digital art as the elements of the public realm preferred by tech industry occupiers.
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