The refurbishment and extension of 318 Oxford Street will turn the House of Fraser department store to a 365,975 sq ft mixed-use development.
The new building will replace the department store with ground-floor retail, office space, two restaurants and a gym with a swimming pool, which will help “bring greater diversity to Oxford Street and helps to develop an evening economy”.
The sixth and seventh floors will be reconstructed, and a terrace will be added. A new eighth floor extension will house one of the restaurants. There are also plans to improve public realm with wider footpaths.
The site, owned by Publica Properties Establishment, has lain empty for more than two years. The store closed in January 2022 after Frasers Group had been served notice by its landlord.
Darren Gill, London and south managing director at McLaren Construction, which has been appointed to carry out the refurbishment, said: “More of these asset repurposing projects are coming through to the market. These are often familiar buildings in prominent locations. They present an opportunity to improve resilience through a variety of new uses – not just for the building, but for the area, too.”
It comes as Marks & Spencer started its High Court proceedings over the blocking of its Marble Arch flagship redevelopment earlier this week (13 February). The retailer was challenging secretary of state for levelling up, housing and communities Michael Gove’s decision to reject the redevelopment of its flagship Oxford Street store six months ago on environmental and heritage grounds, following a closely watched public inquiry.
