Portman and Derwent team up for new retail destination

The Portman Estate and Derwent London are to create a new retail and leisure destination in London’s Marylebone. The pair plan to develop a 28,500 sq ft parade of shops and restaurants called Loxton Walk. The scheme, which will be launched next year, will provide 17 ground-floor shops of 300 sq ft to 5,800 sq ft, with access provided through four new avenues from George Street, Blandford Street, Gloucester Place and Baker Street. The development will feature a central open-air courtyard, providing new public realm, and is part of a larger mixed-use project, which also provides 206,000 sq ft of offices on Baker Street and 12,000 sq ft of workspace at 30 Gloucester Place. Tom Knight, portfolio director at the Portman Estate, said: “The creation of Loxton Walk highlights our efforts and commitment to building a commercially successful neighbourhood in central London. Our latest retail and leisure offering delivered in partnership with Derwent London is an exciting addition to the Marylebone landscape, bringing a new public space and amenity to those who live, work and visit here.” Philippa Abendanon, head of leasing at Derwent London, added: “At Derwent London, we have long recognised the importance of design in prime locations, with connectivity and world-class amenities. Loxton Walk stands as a vibrant destination at the heart of a thriving neighbourhood, offering high-quality facilities and sustainable outdoor areas for people to live, work, and explore.” The scheme will come as something of a fillip for a space-starved central London. According to recent figures from Savills, retail vacancy rates for central London retail currently stand at just 3.7%, the lowest vacancy levels since Q2 2019. The pair hope to attract a diverse mix of retail and hospitality businesses to Loxton Walk and have appointed Bruce Gillingham Pollard, Savills and Kenningham Retail to advise on the scheme.