Following three years of legal battles, the Secretary of State for Housing, Communities and Local Government has granted approval for the redevelopment of the M&S store at Marble Arch.
Under plans, the current Marble Arch store would be demolished and replaced with a 10-storey mixed-use development, which the retailer described as a new, modern flagship store.
M&S stressed its team had tested sixteen different plans to retrofit the store, all of which are untenable due to the complexity of the site which is made up of three different buildings – of different heights, sizes and age.
Stuart Machin, M&S CEO, said: “I am delighted that, after three unnecessary years of delays, obfuscation and political posturing at its worst, under the previous Government, our plans for Marble Arch – the only retail-led regeneration proposal on Oxford Street – have finally been approved.
“We can now get on with the job of helping to rejuvenate the UK’s premier shopping street through a flagship M&S store and office space, which will support 2,000 jobs and act as a global standard-bearer for sustainability.
“We share the Government’s ambition to breathe life back into our cities and towns and are pleased to see they are serious about getting Britain building and growing. We will now move as fast as we can.”
Ikea, HMV and Uniqlo have all put investment into their nearby flagship stores, with M&S adding that its work would be “integral to that regeneration of the West End”.
The news has been welcomed by the New West End Company. “Today’s decision by the Government sends a strong and positive signal for businesses across the UK, particularly in flagship high street locations which are key drivers of economic growth,” noted Dee Corsi, chief executive, New West End Company.
“The redevelopment of Marks & Spencer’s flagship store at Marble Arch will help cement the West End’s status as a global destination for shoppers and office workers alike, revitalising Oxford Street West and reinforcing the message to international investors that the UK is firmly open for business.”
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