The car park beneath London’s Cavendish Square is set to be redeveloped into a 200,000 sq ft underground mixed-use destination.
More than £150m will be invested to redevelop the 1970s car park located behind the John Lewis Oxford Street store into shops, restaurants and offices.
Led by designers at Reef Group and Savills, the project has already attracted interest from technology-focused retailers, global office occupiers, experiential leisure brands and medical providers attracted by its Harley Street proximity.
Source: Revere Design
Sam Foyle, director at Savills, said: “We have been approached by a diverse selection of occupiers looking to take the space in its entirety as well as individual floors. Three new customer entrances provide us with the flexibility to accommodate a diverse mix of tenants that can be interlinked or separated as required.”
Stewart Deering, founder of Reef Group, added: “Cavendish Square is a world-first subterranean mixed-use destination in the centre of Europe’s premier shopping district including Oxford and Regent Street. It is an opportunity to deliver unique space for occupiers from a variety of sectors, capitalising on the opening of the Elizabeth Line in 2021. The development will be a blueprint for repurposing space in capacity-constrained urban environments demonstrating what smart-design can achieve.”
A consultation with those living in the area is already under way and the project is expected to get the green light.