Multinational retailer Marks & Spencer (M&S) has announced a proposal for the redevelopment of its flagship Marble Arch store and surrounding site in London, UK.
The plans are part of the retailer’s Never the Same Again programme to transform its store estate in line with the changing shopping behaviours.
Once completed, the new ten-storey building will have 2.5 floors dedicated for shop space, with ‘Prime Grade A sustainable office space’ on the upper level.
M&S is looking to consult with local stakeholders on the proposal, with planning application submitted later this year.
Meanwhile, the retailer will redeploy all staff working in the store to surrounding M&S stores during the redevelopment and would return only when it reopened.
M&S retail, property and operations director Sacha Berendji said: “The launch of our proposal to redevelop Marble Arch today is the latest example of how we are shifting gears in creating a store estate fit for the future.
“Under our Never the Same Again programme, we are focused on emerging stronger from the pandemic, and today’s proposal not only means we can redevelop and modernise our store so that it better serves the local community on the UK’s destination high street but by taking an assertive approach to the management of our asset base we can unlock additional value from the site at the same time and further support our transformation. We are really excited by the proposal and would encourage the local community to share views with us through our public exhibition, which kicks off today.”
This announcement comes just a day after the retailer expanded its online business with the launch of 46 flagship websites in new markets.
The retailer currently trades from 160,000ft² at Marble Arch across five floors. It sells food, clothing and homewares.