Oriana GP, a joint venture between property firm Land Securities and real estate fund manager Frogmore, has secured an approval from Westminster Council in the UK for the second phase in the redevelopment of 26-48 Oxford Street in London.
Designed by ESA, part of Capita Symonds, the scheme will create a mixed-use, retail-led development featuring retail accommodation and 18 private apartments ranging from one to three bed units.
After completion, the development will maximise the Oxford Street frontage, which will extend to 76,500ft² over the basement, ground and first floors.
The second phase of the scheme follows an initial phase which delivered 149,000ft² of retail space, let to Primark.
Land Securities asset management director Tim Allibone said the development will make a significant contribution to the regeneration of the eastern end of Oxford Street.
"Our development will create some of the most outstanding retail and residential accommodation available in one of London’s most famous shopping locations," Allibone said.
Kevin Wylde of ESA said the site features a remodelled listed building, three retained facades, five new build facades, and retained and new build structure to be implemented over existing trading retail.
"Our design ethos has been to delicately stitch the historic and contemporary fabric to provide a sensitive architectural intervention and enhance the streetscape," Wylde said.
Works on site are scheduled to commence in July 2013.
Image: The second phase in the redevelopment of 26-48 Oxford Street will feature 18 private apartments ranging from one to three bed units. Photo courtesy of Capita Symonds.