Everybody loves a comeback, and 318 Oxford Street is making theirs in the form of a gargantuan glow-up that will see the empty ex-department store transformed into a vibrant mixed-use development. The renovation is costing a staggering £132 million and is set to be completed in the next 12 months.
The art deco building was originally constructed in 1937, becoming House of Fraser’s flagship store in 1987 and standing as part of the row of four department stores that ran along Oxford Street. House of Fraser closed its doors in January 2022 due to the impact of the pandemic, and has been empty ever since. But all that is about to change.
The development – set to be called ‘The Elephant‘ – will boast 366,00 square-feet of space spread across eight stories. Floors one to seven will be taken over with swanky office space, whilst the ground floor will be kitted out with a series of shops, a private gym and a 25m swimming pool. The newly-built eighth floor will be home to a rooftop restaurant and terrace, offering panoramic views across the city.
The renovation is due to be completed next year, despite the structural issues they’ve faced. The building suffers with ‘Regent Street disease’ – a problem that many early 20th century buildings with steel columns clad in masonry are affected by. Project Managers of the redevelopment, MGAC, are determined to preserve and enhance the iconic building, and are trying to maintain as much of the building’s original structure as possible.
Read more about the plans for 318 Oxford Street here.