An underground car park beneath a Georgian square is set to be turned into a huge £100 million shopping and medical development in the heart of the West End.
Developers submitted plans to Westminster city council this week for the mega-basement project beneath Cavendish Square, just off Oxford Street, that looks to turn it into an ‘oasis’.
The regeneration scheme proposes to turn the 1970s car park below the Georgian square into a 280,000 sqft retail and leisure complex across four storeys below ground-level.
Harley Street medical area is earmarked to be extended into private hospitals and specialist clinics to attract patients from around the world, the plans state.
Plans have been submitted for a £100m underground development to expand the Harley Street medical area in London’s West End
The 280,000 sqft development beneath Cavendish Square – one of the capital’s original Georgian squares – will house healthcare facilities as well as retail and leisure spaces
Shops and designer leisure outlets will also be included in the multi-million pound development that would stretch to the equivalent of four football pitches, according to the plans.
If approved it will be London’s biggest destination built entirely underground and could pave the way for similar sprawling developments across the city.
Regeneration specialist Reef Group acquired a long leasehold from Westminster, which owns the freehold.
Stewart Deering, joint chief executive of Reef Group, said the historic square will be returned to its ‘former glory’.
He said: ‘The historic Georgian square will be restored to its former glory, becoming more accessible to the public than before, with improved public realm.
‘Cavendish Square will become an oasis in the heart of London and we hope the plans will encourage more public events to take place within the square.’
The plans, which were submitted to the council this week, seek to transform London’s Cavendish Square into an ‘oasis’ of Oxford Street with £100m of investment
The redeveloped Georgian square could be transformed into a 280,000 sqft retail and leisure complex across four storeys below ground
The car park is currently leased to operator Q-Park for around £3 million a year.
The local authority took out an option to buy it back from the owner for £17 million two years ago.
Talks about over ending the car park lease early to enable the vast site to be redeveloped.
Reef Group said that it hoped to start construction on the project towards the end of next year and to finish the project in 2022.
The 2nd Earl of Oxford first set out Cavendish Square in 1717 and it was named for his wife Henrietta Cavendish Hollace.
Featuring in several Charles Dickens’ novels, including Nicholas Nickleby, the famous square also houses a statue of 19th-century Conservative MP Lord George Bentinck.