Hines has secured planning consent from Westminster City Council for its proposed flagship mixed-use retail and office scheme in the heart of London’s West End, located with dual frontage to both 80 New Bond Street and 325 Oxford Street.
The highly sought-after 37,414-square-foot building arranged over lower ground, ground and six upper floors was acquired on behalf of the Hines European Value Fund 2 (HEVF 2) in February 2020.
The planning consent will enable Hines to proceed with plans for a remodeled scheme, which will retain a significant retail presence at ground- and first-floor level, transforming it into double-height space to meet the exacting requirements of contemporary retail occupiers.
The scheme will provide a total office area of 31,000 square feet NIA (net internal area) with floorplates ranging from 3,000 to 6,500 square feet NIA, and a large communal roof terrace of 1,100 square feet. The office entrance will be repositioned on Dering Street,
