334 Oxford Street
West End, London, W1
2016 to present
This property was previously Debenhams' iconic department store flagship operation, situated on London’s highest profile shopping street. Following Debenhams entering into administration, our client, a high net worth private European investor, has looked to implement a full scale redevelopment of the property to ensure it meets modern day occupational demand and meets market leasing sustainability criteria. Our role as adviser to the property owner has been, and continues to be:
- Advised on the off market purchase of this prime asset, leading the due diligence team to closing.
- Retained a strategic asset management role to advise the investor on discussions with the occupier and longer term options for this high profile asset.
- Negotiated a lease surrender with the Debenhams administrator.
- Formed a professional team to work up a major refurbishment/redevelopment, gaining planning consent for a substantial scheme of approximately 325,000 sq ft net.
- Managing the delivery part of the works, which are currently on site and scheduled to complete in 2025.