Marks and Spencer is to halve the amount of retail space at its largest store.
The chain wants to demolish its branch at the Marble Arch end of London’s Oxford Street, and reduce its retail use from five floors to two-and a half.
The new building would have 10 floors and an arcade through its centre and space for 4,000 office workers on the higher floors.
The branch, which has been a Marks and Spencer store since 1930 is made up of three different buildings that have been merged together over the years.
The company says it does not expect to submit its planning application until May at the earliest and the approval process was likely to take well over a year.
