IKEA unveils continued progress in the huge renovation project to upgrade and preserve the iconic London building. In 2024, shoppers can look forward to an enhanced traditional IKEA experience in London’s West End: a showroom, market hall and a Swedish Deli, packed with inspiration and affordable home furnishing.
Ingka Investments, the investment arm of Ingka Group, the largest IKEA retailer, bought the iconic, Grade II listed building 214 Oxford Street, Oxford Circus, in January 2022. Since then, a huge renovation project has started to create a home for the new IKEA Oxford Street city store and develop four floors of office space – while keeping neighbouring stores open for trading.
The renovation project of one of London’s most iconic shopping locations is an undertaking of great investment, preservation, and environmental sustainability. Ingka Investments is reusing and refurbishing the existing building, removing fossil fuel gas-fired boilers and replacing them with energy-efficient air source heat pumps, and installing secondary glazing. The building will be powered by renewable energy and the refurbished parts of the building will strive to achieve the highest levels of sustainable certification by BREEAM.
To meet these sustainability standards, while ensuring optimal preservation of the building, the ambition is to open the IKEA city store by autumn 2024.
Peter van der Poel, Managing Director, Ingka Investments, said: "When refurbishing this over one hundred-year- old historic landmark, it’s important for us as an investor to treat the building with care and to preserve its characteristics and atmosphere. At the same time, we want to upgrade it to today’s standards with the best possible sustainability credentials. To ensure all of this, the extensive refurbishment will take more time than initially anticipated and IKEA Oxford Street city store is now expected to open in 2024.”
Artist impression of the future Grade II listed building 214 Oxford Street. IKEA Oxford Street will occupy the full first and second basement floor with the entrance on the ground floor. Office spaces will be located at the first to fourth floor with entrance on Great Portland Street.
The IKEA Oxford Street city store marks a key milestone in IKEA’s continued investment across London. Through the launch of city stores, development of existing stores, and the introduction of new services through enhanced fulfilment and delivery capabilities, it is more convenient and sustainable to shop with IKEA than ever before.
When visiting IKEA Oxford Street, customers can look forward to the much-loved, traditional IKEA experience – a showroom, market hall, and a Swedish Deli serving the retailer’s iconic plant and meatballs.
The city store will span over three floors, with a total area of 82,000 square feet (7,600 square meters). Customers will be able to explore around 6,000 different IKEA products, from BILLY bookcases to GLIMMA tealights, with about half of the products available for immediate take away. Larger furniture items can be delivered directly to customers’ homes by electric vehicles from IKEA’s newly opened multi-million-pound distribution centre in Dartford or be picked up from IKEA collection points being rolled out across the capital.
New innovations reflecting the priorities of today’s customers will be featured in the city store – new digital elements will be brought into the physical experience and inspirational solutions based on local insights will be showcased. This, together with tailored and personalised services supported by 150 co-workers, will create the next-level IKEA city store.
Peter Jelkeby, CEO and Chief Sustainability Officer, IKEA UK, said: “We’re incredibly excited to be bringing IKEA to the heart of London’s vibrant retail scene on Oxford Street, which is a major milestone in our continued expansion plans across the capital. By having a presence at one of the most iconic shopping destinations in the world, we’re taking a significant step forward in our ongoing journey to make it easier to shop with IKEA – whenever, wherever and however customers choose.
"The store will provide the full IKEA offering that customers know and love. This includes, of course, a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible can afford them. Packed with inspiration to help customers create better everyday lives at home, the store will also feature exciting, new elements worthy of this incredible building and location."
Cllr Geoff Barraclough, Westminster City Council’s Cabinet Member for Planning and Economic Development, said: “The sight of the famous blue IKEA FRAKTA bag on Oxford Street sends a powerful message – that the nation’s favourite high street is back and retailers want to be here.
“IKEA’s investment is a powerful vote of confidence and the company joins other well-known names who are opening or expanding on Oxford Street. There is still nothing that beats browsing in imaginative showpiece stores, and the West End is leading the way with cutting edge retail and entertainment.
“We will shortly finish consulting on plans to overhaul the look of Oxford Street together with our partners at New West End Company. Wider pavements and green spaces are going make this a space that visitors want to spend time in – there are exciting times ahead.”
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