Transport for London is finally calling time on the unsightly blue hoarding opposite Bond Street Station, W1, after appointing Knight Frank to secure a developer for its site at 354-358 Oxford Street.
TfL confirmed yesterday that it had hired agents to assess its options for the future of the location, including a potential disposal to a developer, ahead of the opening of the Elizabeth Line (Crossrail) next year.
The site, currently used as part of the tunnelling process for Crossrail, has planning consent for a new Tube entrance alongside 17,000 sq ft of commercial and residential space. It is thought to have a value of around £40m.
Bond Street Station is one of the principal access points to the busiest shopping street in the world; the new ticket hall is to be located on the site and will be connected to the new Crossrail station nearby.
The 6,000 sq ft retail unit will be a flagship store, with a ground and first floor frontage onto Oxford Street, suitable for a retailer looking to gain exposure to the area’s heavy footfall and the street’s international profile. Above the store will be 11 new residential units covering 11,000 sq ft across five floors.
A TfL spokesman said the organisation had hired Knight Frank to “provide strategic advice and assess what options are commercially viable for our land at 354-358 Oxford Street”.
To send feedback, e-mail nick.johnstone@egi.co.uk or tweet @n_johnstone or @estatesgazette
