Oriana GP Ltd, the joint venture between Land Securities and Frogmore, today announces that its plans to redevelop and transform 26-48 Oxford Street, W1 have been approved by Westminster Council on March 5 subject to the signing of S106.
The scheme will create a mixed-use, retail led development providing high quality, retail accommodation, maximizing the Oxford Street frontage, which will extend to 76,500 ft² (approx. 7,107 m²) over the basement, ground and first floors. There will be 18 high quality private apartments ranging from one to three bed units.
This second phase follows the success of the initial phase which delivered 149,000 ft² (approx. 13842 m²) of retail space, let to Primark for their flagship store.
Tim Allibone, Asset Management Director at Land Securities: “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.”
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”.
Source: Land Securities