The former location of House of Fraser’s Oxford Street store is set to receive a 132 million pound refurbishment, a move that comes at a time when the London area is calling for a much needed overhaul.
McLaren Construction has been appointed by Publica Properties Establishment to oversee the 34,000 square metre revamp, where office spaces, two restaurants, a gym and a swimming pool are to be located.
According to McLaren, the building has been damaged by ‘Regent Street disease’, an issue that impacts early 20th Century buildings with steel structures, requiring for the repair of the façades and architectural features.
The art deco building previously housed Frasers Group department store House of Fraser until it fell into administration, resulting in the site remaining empty for two years.
Oxford Street has been going through a much needed shift in recent months after years of financial trouble causing a series of store closures, leaving the once iconic shopping street largely vacant.
In an attempt to reverse this, a reported 100 million pounds was invested into Oxford Street itself last year, while a further 10 million pound scheme had also been introduced by Westminster City Council to help small businesses rent vacant store locations.
