For us, it’s a landmark in our portfolio that perfectly demonstrates how we look beyond a simple façade to build something that lasts.
We’ve owned the world-renowned screen since 1968, and in October 2012 we completed the freehold ownership of the entire island site – including the property behind the digital billboards.
This recent acquisition was the catalyst for us to create further value from the entire estate by improving the screen, reconfiguring the retail space underneath to create new flagship units for Boots, Barclays and Gap, and safeguarding the future development of the building behind the Lights
Renewing the screen
The Piccadilly Circus large advertisements have been a famous feature of central London since 1908 when they hosted the first Perrier advertisement which was created with lightbulbs.
Since then, the logos of many household names have been up in lights, and the vista has featured in numerous films and TV programmes. Over the years, the technology has evolved too – from simple lightbulbs to neon signs in the 1920s, then to digital projectors in the 1990s and on to LEDs in 2011.
The work currently underway on site will bring Europe’s most technically advanced digital screen to the site, while preserving the historic façade and design.
At 8,500 sq ft, the new screen is bigger than a tennis court and will use innovative and interactive technology that can even react to the weather. There’s also the potential for live video streams and vehicle-recognition technology to be used by advertisers.
Half the space has been pre-let already to Hyundai, Samsung and Coca-Cola, which continues Coca-Cola’s unbroken streak of advertising here since 1954.
Explore our Piccadilly Lights experience to discover more about this iconic site.
Developing 1 Sherwood Street
The new screen is being built on a standalone structure, which frees up everything behind it.
We’ve secured consent to develop 142,000 sq ft of space in 1 Sherwood Street, and will be starting detailed design later this year.
A bright future
Apart from during exceptional circumstances like the Second World War and the three-day week in the 1970s, the Piccadilly Lights have rarely been dimmed in the past 100 years. Now with the new technology we’re introducing, the improvements to the retail space below the screen and the new mixed-use development behind it, this site is looking forward to an even more dazzling future.
Once completed, the stage is set for the next century of the Piccadilly Lights and for the whole development to maintain its iconic status in our portfolio, and the city of London.
27,600sq ft Office
69,800sq ft Retail
Market value range