Mayfair & St James's Estate

The Lazari Building, New Bond Street & Brook Street

Mayfair & St James's, W1
New Bond Street The Lazari Building
The Lazari Building, New Bond Street & Brook Street

The transformation of an iconic Bond Street department store

Acquired in January 2023 for a total cost of £437.6M, this landmark collection of buildings, formerly Fenwick Department Store, is being reimagined into a best-in-class office and retail complex in collaboration with renowned architects Foster + Partners. The redevelopment will preserve the unique character of Bond Street while introducing modern, sustainable design.

Estate

Mayfair & St James's, W1

Type

OfficeRetail

Size

229,000 sq-ft

Space Available

152,000 sq-ft

Date Acquired

January 2023

Collaborators

Architect: Foster + Partners

Planning Applications

Granted, April 2024. Estimated completion, mid-2027

Estimated GDV

circa £1 billion on completion

The Lazari Building detail
The Lazari Building floor view
The Lazari Building aerial
The Lazari Building aerial
The Lazari Building winter garden
Brook Street
The Lazari Building detail
The Lazari Building floor view
The Lazari Building aerial
The Lazari Building winter garden
Brook Street

The project will feature light-filled workspaces and landscaped terraces surrounding a full-height atrium. Four luxurious retail units will anchor the development, combining heritage and contemporary design. A key focus of the scheme is the use of pioneering low-carbon strategies, including the bracing and lifting of the period-retained façade, which will be reconnected to the main structure. Five floors of contemporary office space will be added, complemented by landscaped outdoor terraces offering striking views across Mayfair.

 

Sustainability & Wellbeing

  • Retaining 50% of the original building.
  • Addition of a green roof.

 

Standards

Targeting:

  • <475kgCO₂e/m2.
  • BREEAM ‘Outstanding’ rating.
  • Highest recorded WELL score in the UK to date.
  • NABERS 5.5* rating.
  • SmartScore enabled.
The Lazari Building roof garden
The Lazari Building roof garden
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Baker Street

As of 31 March 2024, the Baker Street estate consists of seven buildings totalling 336,189 sq ft NIA, primarily comprising upper-floor office spaces, ground-floor retail units, and 13 residential apartments.

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Bloomsbury

The Bloomsbury estate comprises two buildings totalling 207,453 sq ft, including a recently completed office development and a landmark shopping centre.

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Euston

The Euston estate comprises a landmark building and a prominent new development, totaling 568,116 sq ft.

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Mayfair & St James's

This estate includes seven buildings with a total area of 508,549 sq ft. Highlights include the landmark redevelopment of the former Fenwick department store on New Bond Street. As of 31 March 2024, this estate represents 35.67% of Lazari’s total portfolio value.

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North London

The North London estate comprises 72 buildings totalling 360,000 sq ft, primarily retail (168,777 sq ft across 74 units), leisure (86,505 sq ft, including a 90-bedroom Premier Inn and three health clubs), and office spaces (104,011 sq ft). It also includes 81 residential apartments. The estate spans significant holdings across the London Boroughs of Camden, Haringey, Ealing, and Enfield.

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Oxford Street

The Oxford Street estate spans 158,159 sq ft of prime office and retail space across six buildings, occupying an entire block at 90-114 Oxford Street, between Newman Street and Berners Street. Located opposite the Elizabeth line Tottenham Court Road station entrance, it includes 38,291 sq ft of retail across ten shop and restaurant units, 109,491 sq ft of office space, and nine modern residential units accessed from Berners Street. A block date has been arranged for 2031, with a masterplan being developed for the site’s long-term redevelopment.

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Tottenham Court Road

The Tottenham Court Road estate comprises eight buildings totalling approximately 490,000 sq ft of commercial space, primarily office and retail accommodation, along with two health clubs.

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Wigmore Street

The Wigmore Street Estate comprises 371,953 sq ft across four properties, primarily office spaces, alongside a best-in-class medical facility and 15 residential units. The site includes CBRE’s EMEA head office at Henrietta House, a Grade II listed building at 27-37 Wigmore Street; Welbeck Partners’ medical facility at One Welbeck Street; and a Fora serviced office with retail frontage on Wigmore Street and Wimpole Street.

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Our design is about revitalising the historic Fenwick department store building, preserving the existing structure and giving it a new lease of life. This ambitious project will act as a catalyst, injecting energy into this part of the city and underscoring the area’s global presence.”
Norman Foster, Foster + Partners
The Lazari Building atrium
The Lazari Building atrium
We consider the location to be the jewel in the crown of Mayfair. Our exemplary and innovative scheme will provide best-in-class offices and retail units occupying a prominent corner site at the junction of New Bond Street and Brook Street, a stone’s throw from the open spaces of leafy Hanover Square and the Bond Street Crossrail station.”
Leonidas Lazari

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