Derwent London, in collaboration with Crossrail Limited, has submitted a planning application for a mixed-use scheme at 1 Oxford Street, London W1. The proposed scheme, with a total net lettable area of 275,000 sq ft (25,500m2), would be built above the Tottenham Court Road Crossrail and London Underground Station following the completion of the upgrade works,
expected to be in 2017. At this time the Group has an option to reacquire the site which was compulsory purchased by Crossrail in 2009.
Working with architects Allford Hall Monaghan Morris, the proposals are for two striking buildings overlooking an attractive new public square that links Charing Cross Road to Soho Square. The larger building stands on the corner of Oxford Street and Charing Cross Road and incorporates the station entrance, along with 37,000 sq ft (3,400m2) of retail space and 177,000 sq ft 2 (16,400m2) of offices over eight floors above.
Complementing this, to the south is a selfcontained 34,000 sq ft (3,200m2) 350-seat theatre, with 27,000 sq ft (2,500m2) of offices above.
The theatre has been designed in collaboration with Nica Burns and her company Nimax Theatres, a leading London operator, and offers a highly versatile performance space which promises to become a significant landmark within the West End's Theatreland.
John Burns, Chief Executive at Derwent London, commented:
“This 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. These are important villages for both London and the Group, where we have holdings of over 1.5 million sq ft, including several of our major future projects such as Central Cross and the Saatchi site at 80 Charlotte Street.”
Source: Derwent London