Marks & Spencer Gets Green Light for Oxford Street Redevelopment

Deal News | Dec 06, 2024 | Mishcon

Marks & Spencer Gets Green Light for Oxford Street Redevelopment

Marks & Spencer's proposal to demolish and redevelop its flagship store on Oxford Street has received planning permission from the UK government, concluding a contentious and drawn-out planning process. Initially approved by Westminster City Council in 2021, the plan faced a setback when then-Secretary of State Michael Gove denied permission due to heritage concerns and potential carbon emissions. M&S launched a High Court challenge, arguing misinterpretation of planning policies and feasibility of refurbishment alternatives, leading to the court quashing Gove’s decision. The new Secretary of State, Angela Rayner, has now granted approval, underscoring the importance of streamlined planning processes for economic growth and the balance between redevelopment and the UK's zero-carbon transition.

Sectors

  • Real Estate Development
  • Retail
  • Government and Public Policy

Geography

  • United Kingdom – The article relates to the UK's planning laws and decisions, with specific events occurring in London.
  • London – The proposed redevelopment is located on Oxford Street, a major retail area in London.

Industry

  • Real Estate Development – The article focuses on the redevelopment of a major retail site, which falls under real estate development.
  • Retail – Marks & Spencer, a major retailer, is at the center of the redevelopment, impacting its retail operations.
  • Government and Public Policy – The article discusses government decisions and policy implications, placing it within the context of public policy.

Financials

    Participants

    NameRoleTypeDescription
    Marks & SpencerTarget and Applicant for Planning PermissionCompanyA major British retailer applying for redevelopment of its Oxford Street store.
    MishconLegal AdvisorCompanyLegal advisors for M&S during the planning permission appeal process.
    Westminster City CouncilLocal Planning AuthorityGovernmentThe local authority that initially approved M&S's planning application.
    Michael GoveFormer Secretary of StatePersonMichael Gove refused M&S's planning application in July 2023.
    Angela RaynerSecretary of State for Housing, Communities and Local GovernmentPersonAngela Rayner who ultimately granted permission for the redevelopment.