Mixed Use Oxford Street Scheme Planned

Derwent London is collaborating with Crossrail Limited in a joint planning application for permission for a mixed-use scheme in London. The proposed scheme, which would be situated at 1 Oxford Street, London W1, would have a complete net lettable area of as much as 275,000 square feet, and would be constructed over London Underground Station and Tottenham Court Road Crossrail following completion of the upgrade works, scheduled for 2017. By then the Group will have the option to reacquire the area, which was compulsory bought by Crossrail two years ago back in 2009.

The proposals concern two striking buildings, designed in collaboration with architects Allford Hall Monaghan Morris that will overlook an attractive new public square, which will serve to link Charing Cross Road to Soho Square. The larger of the two buildings will sit on the corner of Charing Cross Road and Oxford Street and include the entrance to the station, together with as much as 37,000 square feet of retail space and as many as ten floors comprising 177,000 square feet of office space. Complimenting this to the south will be a self-contained theatre consisting of 350 seats and 34,000 square feet of space,
with offices above the theatre comprising of 27,000 square feet of office space.

“The planning application is an important step in the much needed revitalisation of the eastern end of Oxford Street and is essential for the long term growth of Fitzrovia and Soho,” says the chief executive of Derwent London, John Burns.

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