Change of plan for Selfridges

Selfridges is playing down its plans to redevelop the site of its Oxford Street store, after its decision in May to pull the plug on a £300m redevelopment plan with property developer Stanhope.

The retailer confirms it is pressing ahead with plans to spend £50m developing the existing London store, which will include redesigning the hotel to make it ‘one of the top five in London’.

A spokeswoman for Selfridges refused to elaborate on how the design work will be allocated. But planning permission for the scheme, which is at least two years away, does not appear to have been sought yet.