Derwent London has confirmed its vision for the development of 1 Oxford Street, W1.
Earlier this week, Estates Gazette exclusively revealed a first image of the 500,000 sq ft development plans, including two buildings on the site of former Astoria music venue.
The developer, in partnership with Crossrail, has now submitted plans for a mixed-use development at 1 Oxford Street, above and next to the Tottenham Court Road East Crossrail station, which will be completed in 2017.
Derwent London has released a second image (below). The plans include 37,000 sq ft of retail space, 204,000 sq ft of offices across eight floors and a 34,000 sq ft theatre, designed in collaboration with Nimax Theatres.
John Burns, chief executive at Derwent London, said: “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.”
Derwent London has the option in 2017 to reacquire the site, which was compulsory purchased by Crossrail in 2009.
joanna.bourke@estatesgazette.com
