Plans for Fenwick Bond St ex-flagship mean big cut in retail space

By

Sandra Halliday

Published
Nov 24, 2023

Plans have been submitted to Westminster Council for the makeover of the Fenwick building in New Bond Street (the retailer having sold the store and getting ready to exit it soon) and it looks like the amount of space dedicated to retail will be drastically reduced.

The new plan is office-led, despite the building being on one of the world’s most in-demand luxury shopping streets.

Building magazine reported that floor space at the location will be boosted by 40% with architect Foster & Partners having drawn up radical proposals to add new upper floors and roof terraces to the building, which is 136 years old.

At the junction of Brook Street and New Bond Street, the aim is partly to futureproof the development with “world-class retail accommodation” at street level and on the first floor, with upmarket offices above that.

The building is now owned by property firm Lazari Investments that paid a price around £430 million for it. The building isn’t listed but is in the Mayfair Conservation Area.

Overall, the new building would have more space, but the current mix that’s over 12,000 sq m of retail  and less than 2,300 sq m of offices would be turned on its head with just under 4,700 sq m of retail and over 16,000 sq m of offices.

That retail space would comprise just four units, accessed from New Bond Street.