Lazari Investments has submitted plans to Westminster City Council for the refurbishment and extension of Fenwick’s New Bond Street store.
The Foster + Partners-designed scheme proposes a retrofit of the buildings at 15-17 Brook Street and 53-63 New Bond Street, W1, when the department store vacates the premises next year after 130 years.
The Fenwick family sold the historic buildings to Lazari for an undisclosed amount in December 2022, but agents price the deal at around £430m. The move put the vendor back in the black when it released its financials in October 2023.
Plans now revealed for the scheme include the part-redevelopment of the existing buildings which would add five upper floors plus roof terraces, increasing the floorspace by 38%.
As part of the redevelopment, the new 10-storey building would provide around 50,504 sq ft of retail space, a significant reduction on the current 132,310 sq ft.
Instead, office space would increase from 24,617 sq ft to 175,043 sq ft, with a separate atrium on entry, accessible via Brook Street.
Lazari will target BREEAM Outstanding for the office space and BREEAM Excellent for the retail. It will also seek LEED Platinum and WELL Building certification.
In a design and access statement submitted to the council, Foster + Partners said the site provides “an opportunity for a New Bond Street gateway” and presents “a unique opportunity to rejuvenate the site” by offering high spec retail space that is future-proofed.
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