2nd April 2024

Lazari Investments secures planning for Foster + Partners’ transformation of the former Fenwick store on New Bond Street

Westminster City Council has resolved to grant planning permission for the repurposing of the prominent collection of buildings on New Bond Street that until recently housed the Fenwick Department store. The site also includes 55 New Bond Street.

Lazari Investments completed the acquisition of the properties in January 2023 and assembled a team of leading consultants, to create a building of outstanding design with high sustainability credentials. The Foster + Partners-designed scheme includes world class Bond Street retail on the ground and first floors with offices from the second to ninth floors. A number of facades will be sensitively lifted through innovative engineering to align the floorplates above, creating four spectacular two-storey retail units that will benefit from increased floor heights. The new high-quality shopfronts will complement the existing facades and activate the corner.

The best-in-class offices will have an elegant Brook Street entrance and include a light filled, landscaped atrium, generous external terraces and a rare Mayfair roof top garden.
Internally, the retained office floors will be realigned to eliminate the multiple level changes that currently exist. Along with four additional tiered-back office floors, all the offices will enjoy state-of-the-art amenities, together with internal and external landscaped terraces and winter gardens, substantially increasing wellness and well-being.

Targeting the highest “Outstanding” BREEAM rating, the scheme will retain over 50% of the existing structure, approximately 75% of the historic facades and will have an upfront carbon measure of 463kgCO2e/m2, which meets and exceeds industry targets.

The project is voluntarily providing an employment and skills plan for local people that will provide skills training, apprenticeships and permanent employment on site.

The scheme is targeted for completion at the end of 2026 and is expected to attract world class office and retail occupiers.

Len Lazari, Director, 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.”

Norman Foster, Founder and Executive Chairman, Foster + Partners: “Our design is about revitalising the historic Fenwick buildings, preserving the majority of the existing structure and giving the buildings a new lease of life. The rich history and tradition of New Bond Street is reinforced through a revitalised street front, and the design breathes new life into the upper levels by introducing state-of-the-art office space. This ambitious project will act as a catalyst, injecting energy into this part of the city and underscoring the area's global presence.”

Nigel Dancey, Head of Studio, Foster + Partners, said: “The opportunity to reinvent and restore the erstwhile Fenwick store and establish a new gateway to New Bond Street is an exciting challenge. The project will preserve over 50 percent of the structure, with new sustainable, naturally ventilated offices and terrace gardens on top and exclusive retail at the base that will reinforce the importance of New Bond Street as one of the world’s premier retail streets.”

Patrick Campbell, Senior Partner, Foster + Partners, added: “We are delighted to receive planning permission for our mixed-used scheme, which will make a substantial contribution to the vitality of New Bond Street and the wider Mayfair Conservation Area. The design, developed in close consultation with Westminster planning officers, sets a new standard for the intelligent and sustainable repurposing of existing buildings.”

Notes to editors:

  • Fenwick’s Department Store traded at 63 New Bond Street since 1882. The Fenwick family announced in December 2022 that they had sold the site to Lazari Investments and closed the store in Q1 2024.

  • Lazari Investments Ltd is one of three UK business groups owned directly or beneficially by the Lazari family. The group owns a 3.25m ft2 commercial real estate portfolio plus 125 residential units and operates across eight estates in Westminster and central London.

  • The scheme will create 4,692sqm GIA of Retail and 16,262sqm GIA of Office accommodation.