The BBC has reported that a Westminster committee approved the plans to partly demolish the building, which has stood on New Bond Street since 1891, and redevelop it.
Described as a “high-grade retail and office space”, the lower two levels will become shops, while the second to ninth floors will be office space complete with a roof garden.
The plans represent a loss of 81,806 sq ft of retail space, as the council reportedly said this was because of a need to “reconfigure the site to its optimal layout for office use”.
Given their large scale, the plans will require the approval of London mayor Sadiq Khan. His office reportedly expressed concerns about the height and design of the building in the early stages of the planning application.
Councillors also voiced misgivings over the scale of the proposals.
Property owner Len Lazari told councillors that the existing building was not suitable for modern-day retailing: “Over 100 years, Fenwick’s organic expansion across six buildings resulted in the department store with 37 different levels.”
In a council planning report, officers wrote: “The proposal will provide an appropriate combination of modern retail and office accommodation that accords with the relevant London Plan and City Plan policies, and is therefore considered to be acceptable.”
Fenwick announced the £430m sale of its New Bond Street store to Lazari in December 2022 in what was called a “difficult decision” by chairman Simon Calver. The sale provided a cash injection for the business and in October 2023 Fenwick reported a pre-tax profit of £57.1m in the year to 27 January 2023.
A Westminster City Council spokesperson said: “The proposed development to extend the building operated by Fenwick has been accepted on conditional grounds as it falls in line with the council’s circular economy principles within its City Plan. The application takes a deep retrofit approach, keeping approximately 50% of the building fabric, to deal with deficiencies in the current layout.”
