Former Oxford Street House of Fraser secures first tenant
Elephant, the mixed-use development at the former House of Fraser store at 318 Oxford Street in London, has secured its first tenant.
Luxury health and fitness club Third Space will take 30,000 sq ft of space and will offer a gym floor, a wet spa, and dedicated studios.
Once complete, the development at Elephant will see the creation of a 250,000 sq ft mixed-use destination with 159,000 sq ft of office space, 42,000 sq ft of retail space, and a 12,400 sq ft rooftop restaurant with views over London.
Originally built in 1937, the Art Deco building is undergoing a major retrofit by McLaren which includes the replacement of the sixth and seventh floors, as well as the addition of an eighth storey.
Thomas Rose, co-founder at P-THREE, which secured the letting, said: “This lease will deliver the West End’s largest health club, operated one of London’s most exciting health and wellness brands, at the heart of an iconic building. At P-THREE, we pride ourselves on being ‘place to be’ makers, collaborating with our clients to create the UK’s most dynamic retail and leisure experiences. Elephant is currently undergoing a remarkable transformation and we are curating a distinctive tenant mix to unlock the full potential of this landmark property, shaping it into one of the capital’s most compelling new destinations.”
Sophie Willson, Willson Green, which represents the landlord Publica Properties, added: “We are really excited about the re-invention underway at this former department store. Retaining as much of the original building as possible, we are not only prioritising the environment, but also embracing the original character of the building as we re-use and re-purpose the property to serve the needs of the occupiers, their employees and their visitors today and into the future. We are absolutely delighted to have signed Third Space and look forward to securing other quality businesses and brands for the retail, office and restaurant spaces.”
Colin Waggett, CEO at Third Space, said: “This space and proportions in this building, along with the Vision of Publica Properties demonstrated through the redevelopment, creates a stunning venue for a new Third Space club in the heart of the West End. We will be bringing the latest edition of our fitness and wellness offering to Elephant, serving the building occupiers and the neighbouring community, as this part of the ongoing transformation of this part of London.”