Ikea’s Oxford Street, London store will face a delay to opening of at least six months after renovations of the Grade II listed building found a risk of flooding in the lower basement.
The store was originally due to open in Autumn 2023, but was put back a year ‘ensuring optimal preservation’ of the building in August 2023. The chain paid £378m for the lease in October 2021.
The seven story building will contain three floors of retail covering 82,000sqft and four of offices: recent work has seen the removal of fossil fuel gas-fired boilers and replacing them with energy-efficient air source heat pumps; the complete replacement of all wiring, plumbing and fire protection throughout the building; conversion of the upper floors into office space; the installation of secondary glazing and the cleaning of the building’s iconic fascia.
‘We’ve been overwhelmed by the interest and excitement generated around our Oxford Street opening. The historic nature of the building makes its careful renovation more complex, but we want to ensure Londoners that we’re just as excited to open the store as they are to visit it. We look forward to doing so in spring 2025 and contributing to a positive future for London’s most renowned shopping district,’ says Peter Jelkeby, Ikea UK ceo and chief sustainability officer.
‘Ikea Oxford Street is a one-of-a-kind project, involving the sensitive and sustainable upgrade of a Grade II listed building that is over a hundred years old. Following the discovery of an unforeseen water ingress issue, we’re now taking vital steps to mitigate long-term flood risk, and to protect and future-proof this historic building for many years to come,’ says Peter van der Poel, Ingka Investments md.
