Scheme at 334 Oxford Street has been designed by AHMM

A winner is due next month on a £200m scheme to turn the former flagship of Debenhams in central London into a new retail and office complex.

The building at 334 Oxford Street, which takes up a whole block close to Bond Street tube station, will include three storeys of retail along with office space on its upper levels. It will be extended to comprise a basement, ground and nine upper floors which will includes outdoor terraces at the top levels. 

Debenhams finally closed last summer having started life in 1778 as a drapery on Wigmore Street less than 100 metres from the Oxford Street store. It went into liquidation in 2020 following years of financial difficulties and after talks on a rescue deal failed.

Lendlease, Mace and Skanska submitted first stage bids at the end of last week with a winner due to be named towards the end of April.

John F Hunt is carrying out partial demolition at the site ahead of work proper starting in October.

Designed by AHMM, the scheme is being developed by 334 Ramsbury Oxford Limited, owned by Ramsbury Property. Ramsbury, which owns a majority stake in fashion chain H&M, is run by Swedish billionaire Stefan Persson.

AHMM launched a consultation on the plans last summer ahead of them being given unanimous approval by Westminster council last September.

Others working on the deal include QS Alinea, project manager Blackburn & Co, M&E consultant Atelier Ten and structural engineer AKT II.

The project is being managed by the London based commercial real estate practice Capital Real Estate Partners.