Scheme will almost double office space in block above Bond Street station
The race for a £75m scheme to redevelop a 1970s shopping centre on London’s Oxford Street for British Land is understood to have narrowed to two firms.
Wates, Sisk, Kier and McLaren have all sent in bids for the West One scheme but Building understands the race has tightened to Wates and McLaren.
The scheme was given planning in summer 2022 and under plans drawn up by AHMM, much of the six-storey West One Shopping Centre, above the southern entrance to Bond Street underground station.
The current building’s top four storeys will go altogether and its first and ground floor levels will be partly removed – along with the facades of the retained sections of the building.
A winner will be chosen soon with a stat on site due by the end of the year.
British Land is developing the job with Norges Bank Investment Management, the Norwegian investor which has a 75% stake in the scheme.
Meanwhile, British Land and Singaporean investor GIC have reduced their stakes in the 2 Finsbury Avenue scheme the pair have been developing at Braodgate in the City.
Both will retain a 25% stake in 2FA with the remaining 50% held by Abu Dhabi-based investor Modon Holding.
The £500m construction contract is being carried out bySir Robert McAlpine and is due to finish in 2027.
The 750,000 sq ft development, designed by Danish practice 3XN, spans two towers of 36 and 21 storeys with US hedge fund Citadel having agreed to take 25% of the space with an option to extend this to a third.
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