Zara, River Island, and Urban Outfitters could be forced to close when their leases end in 2027 as the Oxford Street building they are located in is set to be shut for renovations
Several stores of some of the high street’s fashion giants at reportedly at risk of closing for good.
Zara, River Island, and Urban Outfitters could be forced to close when their leases end in 2027, as the building they are located in is set to be shut for renovations.
Park House – which according to Companies House is owned by Quatar Central Bank – on London’s famous Oxford Street houses the stores of the three fashion chains alongside fellow fashion chain Bershka, Jewellers Swarovski and Pandora, and Life Pharmacy.
Plans submitted to Westminister Council reveal that Park House’s owner wants to make several changes to the building, including adding a kitchen for restaurant use. Reports also say the exterior of the building will also be improved. The application claims that issues with the building, including poor signage and lack of variation between units, plus the effects of Covid-19, are the main factors behind the proposed renovation work.
The proposal was presented before Westminister Council’s Planning Sub-Committee on January 7 and officers have recommended it for approval. According to claims in a Westminster City Council planning document published on January 7, all seven businesses intend not to renew their leases once they expire.
However, a spokesperson for Pandora said no decisions on the lease have been made yet. Park House is at the western end of Oxford Street, opposite Marks and Spencer and by Selfridges. The nine-storey building hosts other rental units that are not fully occupied, alongside 39 flats and office spaces.
Documents submitted to Westminster Council say the series of amendments are planned for the basement, ground, and first floors of the nine-storey building. These renovations aim to “provide the flexibility required to improve prospects of securing tenants” so that the units aren’t left empty.
At Monday’s meeting, Jonathan Strong, representing the applicant, said there had been “extensive” consultation with officers, residents and local amenity societies over the two years prior to the submission.
He added Park House had not been performing well, and that most of the current retailers are looking to leave “at the earliest opportunity”. Alongside this, he referenced a letter of support for the plans from the Mayfair Neighbourhood Forum, which stated that the proposals would “make a significant improvement to the building in terms of design and offers”. The application was unanimously approved by committee members.
