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Nigel TAYLOR Published
April 4, 2025
Having lost one of its landmark sites in February, high-end New Bond Street in London is also about to lose valuable retail space too.
Proposals for the shuttered Fenwick store will include a roof garden and offices, but retail will have to take a back seat, as the all-new scheme for the building is now close to being given the green light.
Just the bottom two levels of the nine-level building will be developed into “high-quality retail space”.
While the developer plans to retain 75% of its historic façades and half of the building, head of the owning property company Len Lazari said: “Over 100 years, Fenwicks’ organic expansion across six buildings resulted in the department store with 37 different levels", and told councillors the existing site "was not suitable for modern-day retailing" and that the “different levels of flooring made it inaccessible for some”, reported The London Evening Standard.
Under the plans, the store will be partially demolished and “jacked up” with new floor slabs and facades to create new office and retail space.
Although Westminster City councillors have voted unanimously to back plans to develop the site, bought for over £400 million by property firm Lazar Investments, the Mayor of London’s office has two weeks to finally decide if the project can go ahead.