Hines, the international real estate firm, has secured planning consent from Westminster City Council for its proposed flagship mixed-use retail and office scheme in the former Next location on Oxford Street.
Located at 325-329 Oxford Street and 80 New Bond Street, the scheme will see the retention of the majority of the existing building fabric while reconfiguring and extending the property to provide best-in-class retail and office accommodation.
The sought-after 37,414-square-foot eight-story building, arranged over lower ground, ground and six upper floors was acquired by Hines in February 2020.
The planning consent will enable Hines to proceed with plans for a remodeled scheme, which will retain a significant retail presence at ground and first floor level, transforming it into a two-story space to meet the exacting requirements of contemporary retail occupiers.
Jake Walsh, Managing Director, Hines UK, said: “We’re pleased to receive planning consent which gives us the green light to proceed with our exciting plans for this development. It is probably the best micro-location in London’s West End, with Oxford Street and Bond Street amongst the world’s most iconic and popular retail streets. The two-story shop fronts will provide a unique shop window for any global brand in an unparalleled location.”
The refurbishment work will begin this summer with full completion and the retail and office units ready for Spring 2023.