Luxury health club operator Third Space has signed a 25-year lease at the £1bn regeneration scheme the Whiteley in Bayswater, W2.
Third Space will take 34,000 sq ft of space across three floors, with 21,000 sq ft dedicated to a gym on the first floor.
A swimming pool will form the “centrepiece” of the lower ground floor.
The redevelopment, which seeks to transform the Grade II listed former Whiteleys department store (pictured), is backed by a joint venture between investment manager MARK and CC Land. It will be delivered by development manager Finchatton.
The scheme will include 19 shops, lifestyle brands, restaurants and cafés, as well as 139 homes.
Other occupiers include Everyman Cinema and Six Senses, with the latter set to open a 109-room hotel and spa.
The Whiteley will be the cornerstone of a wider £3bn transformation project in Queensway.
Plans include a new retail strategy, significant public realm improvements, tube station upgrades and regreening, including a new entrance to Hyde Park.
MARK founder and chief executive Marcus Meijer said: “Our regeneration of the Whiteley and Queensway will create a brand new destination in the heart of London, with a diverse mix of retail, leisure and lifestyle offerings, as well as new luxury residences, against the backdrop of exceptional design-led buildings.”
P-Three advised Third Space, while CBRE and Orme Property acted for the Whiteley.
See more lettings information in W2>>
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