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By Sacha Berendji, M&S Operations Director
From the jewel in the crown of UK retail to fake candy stores and empty buildings, Oxford Street has seen a rapid decline.
Footfall is down 30% on pre-pandemic levels – and the national perception of this once loved high street has shifted dramatically. We can’t leave it in limbo or let it decline any further.
BREATHING LIFE BACK INTO OXFORD STREET
How do we restore Oxford Street to become a source of national pride again – the symbol of all that is great about UK retail?
We believe a revitalised M&S store at Marble Arch is an important first step. Our site can be a flagbearer for modern, sustainable redevelopment, breathing life back into this part of our Capital city.
Our current store is no longer fit for purpose. It’s home to a confusing layout, misaligned floors and a poor “backstage” area for staff.
RETROFITTING NOT AN OPTION
We explored retrofitting the store – but with its three poor-quality structured buildings and asbestos challenges (although completely safe), it soon became clear that was unworkable.
So, we developed an innovative and sustainable design for a new Marble Arch store that has so far been approved at every stage, including by Westminster Council and the GLA, and is backed by many local businesses.
This marks a huge step towards a more sustainable Oxford Street, as the new building will:
- Rank among the top 1% of sustainability performance in London
- Use less than a quarter of the energy of today’s structure
- Promote circular economy principles, with 95% of the existing building materials to be recovered, recycled or reused
- Deliver a net positive contribution to the environment from 11 years onwards
A BETTER M&S ATTRACTING LIFE BACK TO OXFORD STREET
A better store means happier customers – with the renewed site set to provide a first-class, digitally-connected shopping experience. Putting the customer first, and attracting life back to the nation’s high street.
So what’s the next step?
We are now waiting for the final go-ahead from the Secretary of State for Levelling Up.
A rejection would result in a missed opportunity to save this once iconic shopping and tourism destination. We want revitalisation, not rejection.
So getting the go-ahead is crucial to allow us to push on with our plans, and work to revive the jewel in the crown of UK retail, with M&S at its heart.
Learn more about how we’re building a store estate that’s sustainable in every way: https://corporate.marksandspencer.com/stuart-machin-building-store-estate-thats-sustainable-every-way
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