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House of Fraser department store in Oxford Street.

House of Fraser department store in Oxford Street.

June 2011
Entrance to House of Fraser department store from Oxford Street in the Summer of 2011

Entrance to House of Fraser department store from Oxford Street in the Summer of 2011

June 2011
View to House of Fraser department store building.

View to House of Fraser department store building.

July 2011
House of Fraser in March 2014

House of Fraser in March 2014

9.3.2014

House of Fraser

Address:
318 Oxford Street, London W1C 1HF
Type:
Commercial
Retails:
1
Viewed:
6319

Description of House of Fraser

House of Fraser is a department store at 318 Oxford Street, London W1.

Connected Companies

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News & Comments: (3)

Buildington
2018/06/11 11:50

House of Fraser experienced the negative impact of the 2017 Rating Revaluation, which Colliers believe substantially added to its costs.

Analysing House of Fraser’s 60 stores in England and Wales, Colliers estimate that House of Fraser faced a business rates bill in 2017/18 of around £38m and this would have been rising to £40.3 m in 2018/9. Moreover, some individual stores saw big rises following the 2017 Business Rates Revaluation. The House of Fraser store in Oxford Street, for example, saw a ratable value increase of over 57%, from £5.73 million to £9.01 million following the revaluation.

In terms of actual rates paid this means that the Oxford Street Store alone saw a rates bill of £4.3 million in 2017/8 compared to £2.96 million 2016/7, a rise of nearly 46%. And this figure was on its way up further, given the Government’s 5 years transition scheme. By 2021/22 House of Fraser, Oxford Street would have been paying business rates of over £5 million a year.

John Webber, Head of Business Rates at Colliers, commented: “Like many other retailers, it’s no wonder House of Fraser had to shut stores and is trying to reduce its rent bills and even cut its store sizes in some areas. As business rates are tied to rental values, it would be mad not to. House of Fraser, Debenhams, Toys R Us, Laura Ashley - the list of retailers with uncomfortably high business rate bills is never ending. As such businesses struggle against the competition from the online retailers and cope with uncertainty over Brexit, wavering consumer confidence and the rise in the NLW for staff, it is no wonder the cracks in the system are growing.”

Read more from colliers.com, Impact of Crippling Business Rates Contributed to House of Fraser's Weaknesses Says Colliers, 8.06.2018.

Buildington
2018/06/07 11:43

House of Fraser has announced plans to close 31 of its 59 stores across the UK and Ireland. This includes the Oxford Street store.

Buildington
2012/08/26 17:41

Planning permission for installation of two cash machines on the corner of Oxford Street and OId Cavendish Street.

Source: Westminster City Council www.westminster.gov.uk/planning
Decision date: 26.07.2012

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