A planning application for the £9.75 million redevelopment of 1-5 George Street into restaurant and office space is set to be submitted before the end of June 2018.
Most of the tenants in the Council-owned building have now moved out and security hoardings have now been erected outside the property. The Council is finalising its review of designs before submitting the planning application in June.
After first considering refurbishing the property, the Council decided it was more viable financially and from a design perspective to pursue a much denser development of the site rather than refurbishment. In addition, it was identified that the site lent itself more to office accommodation than residential.
Following the full demolition of the existing buildings, the new development will provide approximately 3,500 sq ft of retail accommodation at ground and basement levels with approximately 17,000 sq ft of Grade A office accommodation on the upper parts.
Ian Gray, Oxford City Council’s Interim Regeneration and Economy Programme Director, said: “There is a lack of quality office accommodation in the City Centre, so this scheme format has considerable benefits in providing central office accommodation for businesses wanting to remain in a central location and potentially for attracting new businesses into the area.
“This regeneration project also represents good value for money as the completed development should greatly improve the Council’s revenues. But above all, the provision of Grade A office accommodation in the heart of the city is a major consideration.”