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News & Views

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Press Releases

Hines Secures Planning Consent for Refurbishment of Prime Mixed-Use Scheme on Oxford Street in London's West End

April 28, 2021

(LONDON) – Hines, the international real estate firm, has secured planning consent from Westminster City Council for its proposed flagship mixed-use retail and office scheme in the heart of London’s West End, located with dual frontage to both 80 New Bond Street and 325 Oxford Street.

The highly sought-after 37,414-square-foot eight-story building, arranged over lower ground, ground and six upper floors was acquired on behalf of the Hines European Value Fund 2 (HEVF 2) in February 2020.

The planning consent will enable Hines to proceed with plans for a remodeled scheme, which will retain a significant retail presence at ground and first floor level, transforming it into two-story space to meet the exacting requirements of contemporary retail occupiers.

The scheme will provide a total office area of 31,000 square feet NIA (Net Internal Area) with floorplates ranging from 3,000 to 6,500 square feet NIA, and a large communal roof terrace of 1,100 square feet. The office entrance will be repositioned on to Dering Street, incorporating a dedicated, spacious reception area.

Jake Walsh, Managing Director, Hines UK, said: “We’re pleased to receive planning consent which gives us the green light to proceed with our exciting plans for this development. It is probably the best micro-location in London’s West End, with Oxford Street and Bond Street amongst the world’s most iconic and popular retail streets. The two-story shop fronts will provide a unique shop window for any global brand in an unparalleled location.”

Designed by the award-winning Orms Architects, the scheme is targeting BREEAM Excellent with ambitions of achieving Outstanding. It is also aiming for WELL Platinum Ready and Wired & Smart Score Platinum.

Refurbishing instead of redeveloping the building will save c800kgs of CO2 per m2, underlined by a commitment to offset the next 30 years of operational carbon. Its environmental features include the minimizing of embodied carbon through use of low carbon materials and refurbished floor tiles, while carbon modeling software will establish the best materials and fabric buildups to reduce embodied carbon.

The refurbishment work will begin this summer with full completion and the retail and office units ready for occupation anticipated in the spring of 2023.

About Hines

Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 240 cities in 27 countries. Hines oversees a portfolio of assets under management valued at approximately $160.9 billionÂą, including $81.7 billion in assets under management for which Hines serves as investment manager, and $79.2 billion representing more than 172.9 million square feet of assets for which Hines provides third-party property-level services. Historically, Hines has developed, redeveloped or acquired approximately 1,450 properties, totaling over 485 million square feet. The firm has more than 180 developments currently underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world.

Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 62 cities in 13 countries. Hines oversees a portfolio of assets under management valued at approximately €26.3 billion of assets under management in Europe, including €21.9 billion for which Hines serves as an investment manager and €4.4 billion representing more than 3.8 million square meters of assets for which Hines provides third-party property-level services, in Austria, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.

Visit www.hines.com for more information.

ÂąAUM includes both the global Hines organization as well as RIA AUM as of December 31, 2020.

Press Contacts

George C. Lancaster
Senior Vice President
Corporate Communications
713 966 7676

Erica Campbell
Vice President
Global Public Relations
848 466 3658
erica.campbell@hines.com

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Contact Hines

Headquarters

Global Headquarters

845 Texas Avenue
Suite 3300
Houston, TX 77002
United States
1 713 621 8000
Contact Hines

European Headquarters

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

Asia Pacific Headquarters

Suites 2801-02, One Exchange Square
8 Connaught Place
Central, Hong Kong, SAR
China

Regional Offices

U.S. East Region

345 Hudson Street
12th Floor
New York, NY 10014
United States
1 212 230 2300

U.S. Midwest Region

444 West Lake Street
Suite 2400
Chicago, IL 60606
United States
1 312 419 4900

U.S. Southeast Region

383 17th Street NW, Suite 100
T3 West Midtown
Atlanta, GA 30363
United States
1 770 206 5300

U.S. Southwest Region

845 Texas Avenue
Suite 3300
Houston, TX 77002
United States
1 713 237 5600

U.S. West Region

101 California Street
Suite 1000
San Francisco, CA 94111
United States
1 415 982 6200

Asia Pacific Region

Suites 2801-02, One Exchange Square
8 Connaught Place
Central, Hong Kong, SAR
China

Eurasia Region

One Horizon Center
12th Floor
Gurgaon 122002
India
91 124 480 2222

European Region

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900

International Offices

Australia

The Peapes Building
Level 3, 285 George St
Sydney, NSW 2000
Australia
61 2 9232 3137

Brazil

Av. das Nações Unidas, 12901
Torre Norte - 6 ° andar
SĂŁo Paulo 04578-910
Brazil
55 11 5504 7600

Canada

81 Bay Street
Suite 3500
Toronto, ON M5J 0E7
Canada
416 595 1949

Greater China

Suite 333, Hyundai Motor Tower
38 Xiaoyun Road, Chaoyang District
Beijing, PRC 100027
China
8610 8453 8855

France

66 Avenue Charles de Gaulle
Neuilly-sur-Seine, IDF 92522
France
33 1 41 45 80 80

Germany

Hines Immobilien GmbH
Joachimsthaler Str. 1
10623 Berlin
Germany
49 30 726241 100

Greece

Mitropoleos 3
4th floor
Athens 10557
Greece
30 210 364 7895

India

One Horizon Center
12th Floor
Gurgaon, Haryana 122002
India
91 124 480 2222

Ireland

Third Floor, Central Quay, Riverside IV,
Sir John Rogersons Quay
Dublin 2
Ireland
353 1 7999900

Italy

Via Broletto 35
Milan 20121
Italy
0039 02 8962921

Italy.info@hines.com

Japan

Toranomon Hills Mori Tower 6F
1-23-1 Toranomon, Minato-ku
Tokyo 105-6306
Japan
81 3 4520 3501

Luxembourg

35 F, John F. Kennedy
Luxembourg L-1855

352 264 337 1

Mexico

Torre del Angel
Reforma 350
Mexico D.F. 06600
Mexico
52 55 52428809

The Netherlands

Rokin 69D
Amsterdam 1012 KL
Netherlands
31 208 960 510

Nordic Countries

Forbindelsesvej 4
3rd Floor
2100 Copenhagen
Denmark
45 22 88 20 70

Poland

Wola Center
33 Przyokopowa Street
Warsaw 01-208
Poland
48 22 351 2400

Spain

Paseo de la Castellana 110, 2Âş B
Madrid 28046
Spain
34 91 703 00 23

HinesMadrid.Reception@hines.com

South Korea

8F, D1, D Tower
17, Jong-ro 3-gil, Jongno-gu
Seoul 03155
Republic of Korea
82 2 6952 5275

United Kingdom

5 Welbeck St.
London W1G 9YQ
United Kingdom
44 20 7292 1900