Hines to refurbish West End building into mixed-use retail and office space
Real estate firm Hines has secured planning consent for its proposed mixed-use retail and office scheme in the heart of London’s West End.
The building, located with dual frontage to both New Bond Street and Oxford Street, was acquired on behalf of Hines in February 2020.
The planning consent will enable the company to proceed with plans for a remodelled scheme which will retain a large retail presence on the first two floors.
It will also provide office area of around 31,000 sq ft and large communal roof terrace, while the office entrance will be repositioned on to Dering Street.
Hines is a global real estate investment firm with a presence in 240 cities across 27 countries, overseeing a portfolio of assets valued at approximately $160.9bn.
Jake Walsh, managing director of Hines, said the firm was delighted to receive the green light to proceed with the 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 double height 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 anticipated in the spring of 2023.