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London & Regional, the property group, which recently bought the 35,500 sq m (371,000 sq ft) Michael House (former headquarters of Marks & Spencer), in Baker Street, London, W1 is expected to opt for an early refurbishment rather than the KPF redevelopment, which has planning consent. M&S moved the last remaining staff from the Baker Street site to its new headquarters at Paddington late last year. - (18-04-2005)
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London & Regional Properties has acquired the long leasehold interest in the former central London headquarters of Marks & Spencer for £115m. M&S moved from Michael House at 37-67 Baker Street, London, W1, to Paddington last year. Jones Lang LaSalle advised M&S. - (05-02-2005)
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Marks & Spencer, the retailer, has submitted detailed plans for an eight-storey 71,070 sq m (765,000 sq ft) on the 0.8ha (2-acre) site of the firm’s present headquarters at Michael House in Baker Street, London W1. The building, designed by Kohn Pedersen Fox (KPF), will include 60,386 sq m (650,000 sq ft) of offices, 4,366 sq m (47,000 sq ft) of shops and a health club and 32 residential units. Marks & Spencer will seek a developer to undertake the scheme, which could be carried out as two building phases. Marks & Spencer is anticipating a planning consent in spring 2004 and the building will cost around £125m. Jones Lang LaSalle is the development advisor. - (06-09-2003)
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Churchill Securities is now said to be seeking an injunction against Marks & Spencer claiming that its development at 70 Gracechurch Street, also known as Limebank House, 168 Fenchurch Street, London EC3 affects a "right to light" clause on an adjoining building that Churchill owns. It appears that discussions have not resolved the issue and the threat of legal action is making it harder for M&S to find a tenant. Churchill is thought to have made M&S an offer of £150m for the building, subject to planning consent being granted to convert the recently completed building into a 34-storey tower (which would reportedly cost another £130m).
Colliers Conrad Ritblat Erdman and Jones Lang LaSalle are the letting agents for the scheme. It has also been reported that three City firms have pulled out of negotiations for Limebank House due to the legal problems. - (01-10-2001)
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Marks & Spencer has confirmed that it is moving from its headquarters at Michael House, Baker Street, London W1 to Chelsfield's Paddington Basin development in London W2. Marks & Spencer has taken the 22,300 sq m (240,000 sq ft) Waterside building. The relocation of M&S from Baker Street is already prompting interest in the redevelopment of Michael House, and M&S is said to have appointed architect BDP to obtain planning permission for a mixed office and residential scheme that could include around 1 million sq ft of office space. - (27-05-2001)
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