Oxford Street suffers fatal blow after multiple retailers announce they’re leaving
Oxford Street suffers fatal blow after multiple retailers announce they’re leaving
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Major brands are planning to flee Oxford Street because they are not attracting enough shoppers. Park House, which is home to Pandora, Swarovski, Urban Outfitters, Bershka and the flagship River Island store, said the retailers are trying to cancel their lease.
![[MNCPP7 View of Park House on Oxford Street - London, England]](https://metro.co.uk/wp-content/uploads/2025/01/SEI_237653596-8de6.jpg?quality=90&strip=all&w=646)
Microsoft has also announced they will be closing down their Oxford Street store to focus on ‘digital growth’ after opening the 21,000 sq ft shop six years ago. Jonathan Strong, speaking on behalf of Park House, said: ‘Park House occupies an entire urban block and includes [92,000 sq ft] of retail over basement, ground and first floors.
‘It is situated opposite Marks and Spencer and diagonally across from Selfridges, yet has not been performing well in terms of attracting footfall or retail expenditure. ‘In fact, most of the retail tenants of Park House are seeking to exit the building at the earliest opportunity.’.
![[Mandatory Credit: Photo by High Level/REX/Shutterstock (5449996s) Park House, Oxford Street, London. W1. 26th September 2015 Various - 2015]](https://metro.co.uk/wp-content/uploads/2025/01/SEI_237653553-d45b.jpg?quality=90&strip=all&w=646)
Park House said they are now planning on changing the building to include more ‘leisure, medical, restaurant and competitive socialising’. They said: ‘Going forward, we therefore need to reconfigure the retail element of Park House to fit with current and future occupier requirements and to ensure that the building continues to play its part in maintaining the interest and appeal of Oxford Street as an international shopping destination.
‘To do this, we believe we need to introduce more diversity of use beyond traditional retail, such as restaurant and competitive socialising.’. It comes as Londoners complain the famous street has become riddled with American Candy Stores and derelict buildings.
