Selfridges to invest £300 million in revamp of London store
Selfridges has unveiled plans for a £300 million revamp of its department store on Londons Oxford Street.
Having been granted planning permission by Westminster Council last month, the retailer will begin work on the scheme in June. Plans include expanding the retail space by over 10% to an estimated 580,000 sq ft and creating an additional entrance to the store on Duke Street.
Selfridges is also looking to create “the world's largest and most comprehensive destination" for accessories which will include doubling the size of the handbag department on the ground floor to 50,000 sq ft.
To create the extra retail space Selfridges will renovate the store’s office areas, the majority of which will be relocated to the adjacent Nations House. The building will be linked to the store via a tunnel.
Selfridges said the redevelopment is likely to be “the biggest ever investment for a single project by a department store anywhere in the world”.
The store attracts 20 million visitors per year and Selfridges is aiming to increase this number by 10% as a result of the revamp.
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