The reinvention of Hanover Square

London has a dynamic capacity for adaptation and reinvention, turning underutilised spaces into thriving mixed-use environments. Recent examples include the transformation of the redundant railway yards and warehouses at King’s Cross into now one of the city’s most thriving mixed-use destinations, or the redundant Battersea Power Station becoming home to some of London’s best retail and leisure offerings and Apple’s HQ. A city needs to shapeshift to stay relevant, and London has been masterful at doing so.

Another interesting example of such reinvention and evolution is all that has happened in and around Hanover Square. While it is Mayfair’s older public square, prior to redevelopment, it was largely overlooked. The square was congested with traffic and used as a passage through the West End due to its location, southwest of Oxford Circus. It is now a destination in its own right because of long-term public and private partnership – led by the major infrastructure project of the Elizabeth line.

The launch of the new Bond Street Station entrance, located northwest of Hanover Square, in October 2022, has been a catalyst for reinvention. The Elizabeth Line has significantly improved the connectivity of the location, and passengers can now travel from Bond Street to Heathrow in under 30 minutes. Bond Street station was the ninth most used station in the UK in the last financial year, increasing to 38.3 million entries and exits from 19.4 million in the year prior.

This improved connectivity has boosted Hanover Square’s attractiveness as an office location. Great Portland Estates (GPE) spearheaded the extensive office development above the new station in collaboration with Crossrail and Transport for London (TfL), replacing outdated offices with the scheme known as Hanover. The development comprises 168,000 sq ft of high-quality office space, with the majority situated above the station. This has brought a range of new office occupiers, of the very highest global calibre, to the square. A significant proportion has been let to Banking & Finance occupiers; Glencore leased 54,000 sq ft across three floors while the scheme was under construction, and KKR took 57,000 sq ft in the same building. On the western side of the GPE scheme at 20 Hanover Square – a Grade II* listed townhouse, the London Fashion Academy, which runs courses funded by Jimmy Choo, let space in 2021. Strong occupier demand has resulted in the scheme being fully let to very attractive occupiers over a very short time span.

To accompany this, there has been a focus on the enhancement of the public realm to help cater to the increased footfall in the area. Hanover Square now features a half-pedestrianised layout that marks a departure from its previous function as a bus turnaround. This transformation is the result of a collaborative effort initiated by Westminster City Council's design concept in 2016, bringing together property owners and stakeholders, including GPE and TfL. Publica, a specialist in public realm design, worked alongside a multidisciplinary team to realise this vision. The central garden has been revamped with new planting, gates, and art, as well as surrounding new paving and cycling infrastructure. The introduction of the new piazza and Medici Courtyard – designed by Bradley-Hole Schoenaich Landscape – marks the first public courtyard to open in Mayfair in over a century. Another notable addition is the Medici Arcade, which provides a direct link from Hanover Square to New Bond Street, making the prime shopping destination even more accessible to visitors.

This has attracted prominent leisure and retail occupiers to Hanover Square, which has furthered its revitalisation. Most significant is the opening of London’s second Mandarin Oriental hotel last summer. This is the first new luxury hotel to open in Mayfair for over a decade and offers 50 guest rooms and 77 private residences. The hotel neighbours the former Fenwick department store on New Bond Street, which is undergoing its own transformation. New owners Lazari Investments are currently in the process of repurposing the building into an office-led scheme which will deliver some of the finest workspaces globally, alongside best-in-class retail units on the prestigious thoroughfare.

Additionally, as part of the Hanover scheme, the stores fronting New Bond Street have been upgraded, retaining their historic facades. The units have secured new tenants including Grand Seiko, Pronovias, Dsquared2, and Opera Gallery. Furthermore, several restaurants and cafes have opened in the square in recent years, including The Maine, a live entertainment brasserie, as well as Nathalie and, most recently, Leon, which both cater to the new worker population.

Looking ahead, the momentum for development in Hanover Square shows no signs of slowing. BNF Capital is extensively refurbishing the office block at 25 Hanover Square, while Global Holdings Management Group acquired One Hanover Square (formerly Vogue House) last year and is planning a comprehensive retrofit to create modern office spaces. The redevelopment will also introduce new retail units and improve its surrounding public realm, further enhancing Hanover Square’s appearance and accessibility. Additionally, the forthcoming pedestrianisation of Oxford Street is expected to increase footfall to the area and enhance placemaking efforts, benefitting Hanover Square.

Hanover Square has become a premium corner of Mayfair, transformed from an overlooked area to a desirable and accessible location. The reinvention of the square represents how an infrastructure project, the Elizabeth line, and improvements to the public realm can rejuvenate historic areas. All of which has created a quality of place that has not just attracted new tenants, but also improved the experience of the urban realm for the public.