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Oxford House is a refurbishment scheme of the mixed-use property on Oxford Street in London W1.
The property is located directly to the south of Rathbone Square, W1 and opposite 73/89 Oxford Street, W1.
Great Portland Estates is now exploring whether a more substantial redevelopment, including improving the quality and scale of the retail space, would add additional value given the strong demand for high-quality retail units at the eastern end of Oxford Street due to the opening of Crossrail in 2018.
GPE achieved planning approval in June 2016 for an 89,100 sq ft major mixed-use refurbishment at Oxford house. As part of the letting to Facebook at Rathbone Square, Facebook had a right of first offer to take all of the 55,700 sq ft of office space which they chose not to exercise.
Source: Great Portland Estates plc results for the year to 31 March 2017 24.05.2017 gpe.co.uk.
Facebook has chosen not to exercise their right of first offer to occupy the 55,700 sq ft of office space at Oxford House, reports Great Portland Estate.
Dependent on market conditions, GPE expects to be able to commence construction during autumn 2017 although the development team continue to look for opportunities to improve the design of the currently consented scheme.
Source: Great Portland Estates Trading Update for the quarter to 31 December 2016 www.gpe.co.uk
The refurbishment of Oxford House will potentially start in the next 18 months, reports developer Great Portland Estates.
The plans for the refurbishment, for which the planning approval was achieved in June, include a significant increase in the retail space to take advantage of the strong demand for good retail units at the eastern end of Oxford Street.
As part of the letting at Rathbone Square, Facebook has a right of first offer (exercisable in January 2017) to pre-let all the anticipated 55,700 sq ft of office space.
Source: Great Portland Estates plc half year results, six months ended 30 September 2016 www.gpe.co.uk
Planning approval for Oxford House was achieved in June for the 88,200 sq ft major mixed-use refurbishment.
The plans include a significant increase in the retail space to take advantage of the strong demand for good retail units at the eastern end of Oxford Street.
As part of the letting at One Rathbone Square, Facebook has a right of first offer to pre-let all the anticipated 55,700 sq ft of office space.
Source: Great Portland Estates trading update for the quarter to 30 June 2016 www.gpe.co.uk
Great Portland Estates continues to work up plans ahead of a planning application
submission in the coming months for a 90,500 sq ft major refurbishment scheme of the mixed-use property at 76 Oxford Street, incorporating a significant increase in the retail space.
Source: Great Portland Estates trading update for the quarter to 30 June 2015.
*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.
