London’s Oxford Street is set to see a new two-acre “major retail-led development” at the Mount Royal plot as its owners hire architects Make to draw up plans.
The huge plot lies between Portman Street and Old Quebec Street on northern Oxford street, and is owned by The Portman Estate and Great Portland Estates.
It features a 100 yard frontage and 92,800sq ft of ground floor shops situated below the Amba Hotel, which is reportedly also involved in the new plans.
“We are exploring an opportunity with our stakeholders to create a new major retail-led development on a two-acre site on Europe’s busiest shopping street,” The Portman Estate said.
“Make Architects has been instructed to help look at the various options for the site. Nothing has been agreed at this early stage, but it will be a mixed-use development. This is a potential scheme for the mid-2020s.”
Earlier this week a £100 million redevelopment situated on nearby Regent Street was announced as property owners sought to capitalise on the proposed “pedestianisation” of Oxford Street and the increased footfall that will come with the completion of the Elizabeth Line in 2019.