Refurbishment instead of redevelopment of Hines’s mixed-use retail and office project at the junction of London’s Oxford Street and New Bond Street will save about 800kgs of CO2 per sq m.
Hines has just been granted planning consent for the project by Westminster City Council for the project, which has a dual frontage at 80 New Bond Street and 325 Oxford Street, formerly let to Next and known as Burlian House.
The design will also minimise embodied carbon by using low carbon materials and refurbished floor tiles, while carbon modelling software will establish the best materials and fabric buildups to reduce embodied carbon. Hines has also made a commitment to offset the next 30 years of operational carbon.
The scheme is targeting BREEAM Excellent with ambitions of achieving Outstanding. It is also aiming for WELL Platinum Ready and Wired & Smart Score Platinum.
The 37,414-square-foot (3,475 sq m) building on lower ground, ground and six upper floors was acquired on behalf of the Hines European Value Fund 2 (HEVF 2) in February 2020 from Aviva Investors.
The project will retain a significant amount of retail on the ground and first floors which will be double-height space. However, there will be 31,000 square feet (2,880 sq m) of offices whose entrance is on Dering Street.
“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,” said Hines UK managing director Jake Walsh.
“The double height shop fronts will provide a unique shop window for any global brand in an unparalleled location.”
Refurbishment will start in the summer and be complete in spring 2023.