A site that previously housed BHS and the UAL College of Fashion on Oxford Street in London may be transformed into a vibrant retail and cultural center.

Proposals for 33 Cavendish Square, put forward by Berkeley Estate Asset Management (BEAM) in collaboration with Kohn Pedersen Fox (KPF), outline plans for office spaces, new retail outlets, as well as an auditorium and event venue.

John Bushell of KPF remarked that these plans represent a “significant move towards revitalizing Oxford Street.”

BHS was located at this site from 1961 until 2016 when it fell into administration, while the UAL College of Fashion vacated the premises after relocating to new facilities at the Olympic Park. Currently, a portion of the building is utilized as office space.

The proposed development encompasses 807,293 square feet (75,000 square meters) of office area and a cultural hub measuring 37,673 square feet (3,500 square meters), which will feature an auditorium suitable for events like TED talks, product launches, and fashion showcases.

The initiative is expected to generate over £550 million in annual revenue and create nearly 4,500 jobs upon completion, according to the Local Democracy Reporting Service.

If Westminster City Council grants approval, construction is anticipated to begin in 2029 and continue until 2033.

Mr. Bushell mentioned that the new structure aims to offer an “enhanced retail environment to attract leading global brands to the high street.”