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1 Oxford Street in London W1.

1 Oxford Street in London W1.

© Derwent London

1 Oxford Street

Address:
1 Oxford Street, London W1D 2DA
Type:
Mixed use
Completion:
2020
Area:
275,000 sq ft
Offices:
1
Retails:
1
Venues:
1
Viewed:
5704

Description of 1 Oxford Street

1 Oxford Street is a mixed-use development in London W1.

Planning permission for 275,000 sq ft office, retail and theatre scheme.

The scheme, with a total net lettable area of 275,000 sq ft (25,500m2), will be built above the Tottenham Court Road Crossrail and London Underground Station following the completion of the upgrade works, expected to be in 2017.

Working with architects Allford Hall Monaghan Morris, the proposals are for two striking buildings overlooking an attractive new public square that links Charing Cross Road to Soho Square. The larger building stands on the corner of Oxford Street and Charing Cross Road and incorporates the station entrance, along with 37,000 sq ft (3,400m2) of retail space and 177,000 sq ft 2 (16,400m2) of offices over eight floors above.

Complementing this, to the south is a selfcontained 34,000 sq ft (3,200m2) 350-seat theatre, with 27,000 sq ft (2,500m2) of offices above.

The theatre has been designed in collaboration with Nica Burns and her company Nimax Theatres, a leading London operator, and offers a highly versatile performance space which promises to become a significant landmark within the West End's Theatreland.

Work will start once all the Crossrail works are complete in Q1 2018.

Source: Derwent London

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News & Comments: (3)

Buildington
2016/08/12 10:39

1 Oxford Street development could commence in 2018, reports Derwent London in Interim Results for 2016.

Source: Derwent London derwentlondon.com

Buildington
2015/07/14 22:56

Crossrail and Derwent London are on track with 1 Oxford Street W1.

The initial agreement to develop the site above the existing Tottenham Court Road London Underground station was agreed in 2007 and the Group surrendered its existing holdings in the area in 2009. The revised agreement sets out the terms whereby Derwent London will once more own the key interest in one of the best placed redevelopment sites along the whole Crossrail route.

Derwent London, in co-operation with Crossrail Limited, achieved planning in 2012 for an AHMM designed 275,000 sq ft landmark development comprising 204,000 sq ft offices, 37,000 sq ft retail and a 34,000 sq ft 350-seat theatre. The Group will enter a new 150-year lease in return for the payment of £55m. This only becomes payable once the development reaches practical completion. Crossrail Limited will receive a ground rent equivalent to 5% of the rent on the commercial space and receive 16% of any development profit. Work is due to start in Q1 2018.

Tottenham Court Road Crossrail station will be one of the highest profile stations on the Crossrail route. Crossrail, Transport for London and the London Borough of Camden are undertaking a huge transformation of the area through the introduction of new infrastructure, as well as vital investment in the surrounding public realm which is one of the biggest investments in the West End for decades. This will include the creation of a new piazza at St Giles Circus. 1 Oxford Street forms the west side of this major area of regeneration providing a new West End theatre, and public space between our two buildings that link the new piazza with Soho Square.

John Burns, Chief Executive Officer of Derwent London, commented:

“1 Oxford Street is one of the best addresses in London. We are very excited by the potential of this project and the area, which will be transformed by the opening of Crossrail in 2018. Derwent London will own over two million sq ft in the immediate vicinity and is making significant investments to improve the area including our recently completed office and retail projects at 1-2 Stephen Street and Tottenham Court Walk respectively which has helped kick-start the regeneration of Tottenham Court Road.”

Ian Lindsay, Crossrail Land & Property Director, commented:

“The £1bn redevelopment of Tottenham Court Road station provides a once in a generation opportunity to revitalise the eastern end of Oxford Street. We are delighted to be working with Derwent London on this flag-ship scheme which will deliver high quality buildings above our station and at the same time generate a very significant contribution to Crossrail’s funding envelope. Crossrail will transform rail travel in London and the South East, providing much needed additional transport capacity, reduced journey times and new journey opportunities.”

Buildington
2011/10/19 15:58

Derwent London, in collaboration with Crossrail Limited, has submitted a planning application for a mixed-use scheme at 1 Oxford Street, London W1. The proposed scheme, with a total net lettable area of 275,000 sq ft (25,500m2), would be built above the Tottenham Court Road Crossrail and London Underground Station following the completion of the upgrade works,
expected to be in 2017. At this time the Group has an option to reacquire the site which was compulsory purchased by Crossrail in 2009.

Working with architects Allford Hall Monaghan Morris, the proposals are for two striking buildings overlooking an attractive new public square that links Charing Cross Road to Soho Square. The larger building stands on the corner of Oxford Street and Charing Cross Road and incorporates the station entrance, along with 37,000 sq ft (3,400m2) of retail space and 177,000 sq ft 2 (16,400m2) of offices over eight floors above.

Complementing this, to the south is a selfcontained 34,000 sq ft (3,200m2) 350-seat theatre, with 27,000 sq ft (2,500m2) of offices above.

The theatre has been designed in collaboration with Nica Burns and her company Nimax Theatres, a leading London operator, and offers a highly versatile performance space which promises to become a significant landmark within the West End's Theatreland.

John Burns, Chief Executive at Derwent London, commented:
“This planning application is an important step in the much needed revitalisation of the eastern end of Oxford Street and is essential for the long-term growth of Fitzrovia and Soho. These are important villages for both London and the Group, where we have holdings of over 1.5 million sq ft, including several of our major future projects such as Central Cross and the Saatchi site at 80 Charlotte Street.”

Source: Derwent London

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

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