Green light for Lazari’s New Bond Street Fenwick redevelopment plans

4th April 2024 | Jack Oliver

Councillors have green lit Lazari Investment’s plans to repurpose the former Fenwick department store on London’s New Bond Street into a mixed-use development.

Westminster City Council has resolved to grant planning permission to the proposals – which also include changes to 55 New Bond Street – to create an office-led scheme with a retail provision spanning 50,504 sq ft on the ground and first floors.

Fenwick had traded from its home at 63 New Bond Street since 1882, before selling the property to Lazari in late 2022 and then closing the store in February this year.

Under the proposals, designed by Foster + Partners, a number of façades will be lifted to create four two-storey retail units. The offices – which will occupy the second to ninth floors – will an entrance onto Brook Street and include a light-filled atrium, external terraces and roof top garden.

The development – which is aiming for completion by the end of 2026 – is targeting the highest “Outstanding” BREEAM rating, with the scheme retaining over half of the existing structure.

Len Lazari, director of Lazari Investments, said “Our decision to acquire the Fenwick site was heavily influenced by our love of the architecture and its Mayfair surroundings, together with our belief in the enduring attraction of retail on Bond Street. We believe Foster + Partners’ design for the completed scheme will assist in enhancing Bond Street’s global status.”

Lazari Investments is one of three UK business groups owned directly or beneficially by the Lazari family. The group owns a 3.25 million sq ft commercial real estate portfolio plus 125 residential units, and operates across eight estates in Westminster and central London.


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