The Crown Estate’s Quadrant 3 retail development near London’s Regent Street will be ready for shopfitting in June next year so stores can open in time for the 2012 Olympics.

Head of Regent Street strategy and development David Shaw said he hoped to attract fashion and similar retailers, “possibly those who have concessions in department stores but are not ready for a big store on Regent Street”.

The development will provide 12 retail units totalling more than 20,000 sq ft on Brewer Street and Glasshouse Street.