Selfridges in £130m London office expansion
Selfridges, the world renowned department store, has today secured 103,000 sq ft of new office space in a neighbouring commercial development beside its flagship store.
The site, 103 Wigmore Street, was acquired for £130m from Hermes Real Estate Investment, concluding secret negotiations in a deal which was advised by CBRE.
It is understood that Selfridges are keen to expand their iconic London store, and have been increasing its holdings in the area as it brings forward plans for major expansion.
Shard architect Renzo Piano, was appointed in May 2012, to design the potential expansion after seeing off competition from Herzog and OMA to win the project. The proposed designs could include a luxury hotel and retail and office space.
Commenting at the time, a Selfridges spokesperson said: “Plans incorporate the 1909 landmark building along with adjacent spaces and new architecture within (and above) the urban block.
“The project is rooted in Selfridges’ ambition to remain great for generations to come, by pushing the boundaries of architecture, design and customer experience.”
103 Wigmore Street, also known as Nations House office development, was built in 1968 and refurbished in 1999. Currently, there are multi-let offices inside the building, on leases due to expire over the next six years.