House of Fraser’s former Oxford Street flagship store is set to undergo a £132m refurbishment, which will bring offices, restaurants and a swimming pool to the site.
The refurbishment and extension of 318 Oxford Street will transform the former department store into a 365,975sq ft mixed-use development.
The new building will include ground-floor retail, office space, two restaurants and a gym with a swimming pool to help “bring greater diversity to Oxford Street and […] develop an evening economy”.
House of Fraser Oxford Street has sat empty for two years, after it closed in January 2022 when Frasers Group was served notice by its landlord Publica Properties Establishment.
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Publica has now recruited McLaren Construction to carry out the refurbishment of the building.
The construction group’s London and south managing director Darren Gill 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.”
The news of a revamp comes as M&S has started its High Court challenge over the blocking of its Marble Arch flagship redevelopment.
The retailer’s redevelopment plans involved demolishing the three buildings it occupies to make way for a new 10-storey building, which included a new store and an office block.
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