UK - The Crown Estate has signed its first green lease for part of its £750m (€860m) Regent Street regeneration programme in London.

The organisation has let 5,000 square feet of office space on the first floor of 16 New Burlington Place to management consultants the Nichols Group.

Nichols Group is to move from Savile Row into New Burlington Place on a 10-year green lease on confidential market terms.

The green lease will encourage mutual sharing of sustainable data, such as energy and water consumption, waste management and the improved use of building facilities, as well as co-operation on energy-saving and carbon reduction initiatives.

Other elements the lease aims to encourage are mutual co-operation on obtaining energy performance certificates, and avoiding alterations that adversely affect the energy performance of the building.

New Burlington Place was one of the first blocks to be redeveloped as part of The Crown Estate's West End regeneration programme.

The top four floors have been home to The Crown Estate's corporate headquarters since 2006.

New Burlington Place achieved an excellent BREEAM rating for its sustainable features, which include rainwater harvesting and photo-voltaic cells.

"I'm delighted The Crown Estate has signed its first green lease in Regent Street," said Vivienne King, director with responsibility for sustainability at the Crown Estate.

"Not only will this make the most of New Burlington Place's extensive sustainable technologies, but it demonstrates the Crown Estate's sustainability strategy in action. We will now capitalise on this success and roll-out our ‘green lease' to other parts of the urban portfolio."

David Shaw, head of the Regent Street Portfolio at the Crown Estate, added: "This letting demonstrates that even in these uncertain times Regent Street remains competitive in providing a unique international destination for business."

Frances Nichols, creative director at the Nichols Group, said: "We are delighted to have our new environmentally friendly office, which gives us extra space and flexibility for our future growth and expansion of creative ideas and services."