Oxford Street’s Park House is to undergo a partial revamp as its owner looks to expand the building’s offerings beyond traditional retail. It is understood most of Park House’s existing retailers, which include Swarovski and Urban Outfitters, plan on leaving the premises when their leases expire in 2027.
Pandora, which also operates from the building, previously said that no decisions have been made on whether it will leave Park House once its lease ends.
Park House is at the western end of Oxford Street, opposite Marks and Spencer and by Selfridges. It has 39 flats and office space, as well as retail. It is owned by Park House (Oxford Street), which, according to Companies House, is part-owned by the Qatar Central Bank.
Documents submitted to Westminster City Council detail a series of amendments planned for the basement, ground, and first floors of the nine-storey building.
These include improving the shopfront façade on the north and east elevations, reviewing whether the building is suitable for alternative uses such as restaurant or medical use, and adding a kitchen extract riser.
The plans also state the works are required due to issues such as a fall in retail rents across Oxford Street and problems with the building itself, such as poor signage and a lack of variation between units.
A Westminster City Council report published ahead of last night’s (Tuesday, January 7) Planning Sub-Committee noted it is understood that Park House’s existing retailers ‘are not intending to renew their lease upon cessation’.
None of the stores contacted by the Local Democracy Reporting Scheme (LDRS), which include Zara and Bershka, confirmed why, though a spokesperson for Pandora said no decisions have been made at this stage.
Existing Park House retailers include Pandora, Zara and Urban Outfitters
(Image: LDRS)
At last night’s meeting, Jonathan Strong, representing the applicant, said there had been ‘extensive’ consultation with officers, residents and local amenity societies over the two years prior to the submission.
He added Park House had not been performing well, and that most of the current retailers are looking to leave ‘at the earliest opportunity’.
On the wish to broaden the building’s basement, ground and first floors beyond retail, he said: “This will provide the flexibility required to improve our prospects of securing tenants so that the units aren’t left empty.”
Mr Strong also referenced the letter of support from the Mayfair Neighbourhood Forum, ‘who state that the proposals will make a significant improvement to the building in terms of design and offers’.
Labour councillor Sara Hassan asked several questions on the composition of the space, such as how many retail units would be retained and how customers would access the basement.
She was told by an officer these details, if the submission is approved, would be confirmed down the line once potential occupants have been identified.
Officers also told Cllr Patrick Lilley, who was chairing the meeting, that the changes from a design perspective are deemed to align with the wider Oxford Street aesthetic.
Cllr Lilley described the proposal as ‘imaginative’, adding: “I think Oxford Street is about to enter its next era, so allowing our premises to innovate, I think it’s really helpful.” The application was unanimously approved by committee members.
A number of high-profile retailers, such as HMV and TK Maxx, have either opened or are planning to open new stores on Oxford Street amid wider council efforts to rid the famous shopping district of American candy stores.
London Mayor Sir Sadiq Khan last year revived plans to pedestrianise Oxford Street. While yet to be approved by the Government, the proposal has angered groups such as the local Labour council administration which had been rolling out its own £90 million scheme to improve the public realm.
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