One Newman Street

Key Details

Overview

One Newman Street/70-88 Oxford Street is a new mixed-use development on Oxford Street in London W1.

The 119,100 sq ft development comprises 81,200 sq ft of offices (One Newman Street) and 37,900 sq ft of retail space (70/88 Oxford Street).

Offices - 1 Newman Street
Large open floor plates, 78,100 sq ft with a dedicated entrance off Newman Street.

Marketed by Colliers and Knight Frank.

Retail - 70-88 Oxford Street
41,600 sq ft flexible retail space with 8m high frontages on Oxford Street. Retail website: 70-88 Oxford Street.

Marketed by agents Nash Bond and Kennington Retail.

Expected completion Q3 2021.

History

2020 - Exane BNP Paribas will occupy the fifth, sixth and seventh floors, as well as ancillary basement space on three separate 15 year leases. Completion of the leases is conditional only upon practical completion and obtaining a change of use of c.400 sq ft of basement from A1 retail space to B1 ancillary offices.

2019 - The office element of the development is branded as 1 Newman Street. The retail space is advertised as 70-88 Oxford Street.

2019 July - The main contractor (Lendlease) has started on site and works are progressing well. The new building completion is targeted for Q2 2021, with an expected profit on cost of 18.3%.

2017 October - Planning application submitted for:
Demolition of 70-88 Oxford Street (Oxford House) and the erection of a new building comprising sub-basement, basement, ground plus seven upper floors and plant level, for the purpose of cycle parking and plant accommodation at sub-basement level, Class A1 (retail) accommodation at basement to first floor levels, a flexible Class A1 (retail) and/ or Class B1 (office) use on the second floor and Class B1 (office) accommodation at third to seventh floors; the creation of a rooftop terrace area at plant level; the creation of a service yard to the rear of building and other associated works. Westminster City Council ref. no. 17/09219/FULL.

References:
Westminster City Council planning applications westminster.gov.uk