Seven Oxford Street brands including Swarovski, River Island and Zara set to leave shops amid revamp plans

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Seven Oxford Street shops reportedly plan to close or move when their leases end as the owner of a prominent building looks to revamp the site.

Swarovski, Zara and Urban Outfitters are among those currently operating from Park House, which also includes office and residential spaces.

A spokesperson for Pandora, another of the retailers, said no decisions have been made regarding the company’s intentions once the lease ends despite claims in a Westminster City Council planning document that all seven businesses intend not to renew their leases when they expire.

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Seven Oxford Street shops reportedly plan to close or move when their leases end as the owner of a prominent building looks to revamp the siteSeven Oxford Street shops reportedly plan to close or move when their leases end as the owner of a prominent building looks to revamp the site
Seven Oxford Street shops reportedly plan to close or move when their leases end as the owner of a prominent building looks to revamp the site | AFP via Getty Images

Montagu Evans, a planning consultancy acting as the agent for the applicant Park House (Oxford Street), was approached for comment but did not respond. Plans submitted to Westminster City Council detail how Park House’s owner, which according to Companies House is part-owned by Qatar Central Bank, is looking to implement a series of amendments to the nine-storey building.

The primary changes involve improving the shopfront façade on the north and east elevations, reviewing the building for possible uses beyond traditional retail, such as restaurant or medical use, and adding a kitchen extract riser from the basement.

The applicant states the works are necessary due to a fall in retail rents across Oxford Street, an issue compounded by Covid, and problems with the building itself, such as poor signage and a lack of variation between units. The proposal is due to go before the council’s Planning Sub-Committee on Tuesday evening (January 7). Officers have recommended it for approval.

A revamp is being planned for prominent Oxford Street building Park HouseA revamp is being planned for prominent Oxford Street building Park House
A revamp is being planned for prominent Oxford Street building Park House | Google/LDRS

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In a report prepared ahead of the meeting, officers wrote that it’s understood ‘the existing occupants are not intending to renew their lease upon cessation’ but none of the businesses affected, apart from Pandora, have responded to requests from the Local Democracy Reporting Service (LDRS) for confirmation of that. The leases are expected to expire in 2027, according to a planning and heritage statement submitted as part of the application.

Park House has nine retail units, not all of which are occupied. The application and the Park House website list seven retailers currently operating from the building, namely River Island, Urban Outfitters, Life Pharmacy, Zara, Pandora, Bershka and Swarovski.

A spokesperson for Pandora said its lease still has time left to run, and that no decisions have been made. The council granted planning permission to build Park House in 2006. As well as retail units it has 39 flats and office space over its nine floors.

Oxford Street has recently seen a number of retailers such as HMV and TK Maxx announce new premises amid council efforts to improve the famous shopping district and rid it of American candy stores.

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London Mayor Sir Sadiq Khan last year revived plans to pedestrianise Oxford Street by announcing he is looking to establish a Mayoral Development Corporation. If granted by the Government this would give him greater planning powers and the ability to override the council.

The plans received support from Deputy Prime Minister Angela Rayner, though angered groups including the local Labour administration which had been implementing its own £90 million scheme to improve Oxford Street’s public realm. The LDRS revealed Westminster City Council has since scrapped its project, on which it had already spent £20m.

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