Selfridges has partnered with flexible workspace company Fora to create a 45,000 sq ft workspace and retail space opposite its flagship store.
The development stands opposite the Duke Street entrance of the world-famous department store and is set for completion by autumn 2021.
Grafton Architects and Piercy&Co have been drafted in to work on the project, which was green lighted by Westminster Council in July. It is believe half of the space will be given over to retail.
Fora will occupy floors two to seven of the development, with the ground floor remaining as shops. Two floors will be devoted to a new events space leading on to a terrace with a bar.
Tim Reade, head of asset management at Selfridges Group, said the development would enable the retailer to “cultivate a young, creative community in the Duke Street neighbourhood surrounding Selfridges & Co” which would drive further footfall.
“It will also enable the building to be used more intensively and beyond traditional office hours, helping to consolidate Selfridges’ unique and iconic presence in the Oxford Street district,” Reade added.
The news comes as TheIndustry.fashion revealed that Selfridges had topped the “Buzz Score” chart of its new fashion brand & retail tracker, The Index, which is created in partnership with payments provider Klarna. Some 100 brands are tracked in The Index, which will be updated monthly. Find out more here.