Developer Salmon Harvester is to make a speculative start on a £35 million retail scheme on Oxford Street after planning permission was secured for the redevelopment of numbers 175 to 195.

The developer, backed by NFU Mutual, plans to build a 23,650 sq ft (2,200 sq m) scheme to include three floors of retail covering 11,650 sq ft (1,110 sq m), with the remainder comprising four floors of offices above.

The site, which sits adjacent to Marks & Spencer’s Pantheon shop, was formerly occupied by a New Look store destroyed by fire in April last year. Work on the redevelopment, which has been designed by 3DReid, is scheduled to start next month with completion due in autumn next year.

The scheme is on the less exclusive eastern end of Oxford Street, but Salmon Harvester chief executive Doug Stewart insisted a strong tenant would be found. “We are confident this development will spark interest among high-end retailers,” he said.

Jackson Criss and Thomas Davidson have been appointed letting agents for the retail element of the scheme.

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