Plans to redevelop Oxford Street by creating a mixed-use retail-led build have been approved by Westminster Council, it has been announced today.
Redevelopment plans were submitted by Oriana, a joint venture between property firm Land Securities and Frogmore for a 76,500 sq ft unit which will also include 18 private apartments.
Aiming to maximise store frontage and transform the Eastern End of Oxford Street, the scheme follows the successful delivery of the 149,000 sq ft letting for Primark‘s flagship.
Eric Roseman, Director of Asset Management at Frogmore said: “This second phase in our planned regeneration of the Oriana block is particularly satisfying and as the momentum gathers around our ground-breaking Primark scheme, Crossrail, Centre Point redevelopment and St Giles, we will see the eastern end of Oxford Street finally come of age”.
Land Securities, which also today announced new lettings of a 7,700 sq ft Jamie Oliver unit at King‘s Gate and a 2,800 sq ft Royal Quarter Cafe at Wellington House SW1, hopes that the new development will further rejuvenate the famous shopping destination.
Commenting on the transformation of 26-48 Oxford Street, Land Securities‘ Asset Management Director Tim Allibone said: “We are delighted that we can progress with our plans which will make a significant contribution to the regeneration of the eastern end of Oxford Street.
“Our development will create some of the most outstanding retail and residential accommodation available in one of London‘s most famous shopping locations.”