Selfridges has rowed in behind Marks and Spencer Group PLC (LSE:MKS) plans to demolish and redevelop its flagship Oxford Street store.
Signa Holding and Central Group, which bought Selfridges from the Weston family for £4bn this year, said it “supports and endorses” the redevelopment of its neighbour in a letter to the Planning Inspectorate overseeing an inquiry into the proposals.
M&S wants a new building at its current Marble Arch end of the street location but is being fiercely opposed by those who want the existing property refurbished not demolished.
The inquiry, approved by Michael Gove in June, starts today in Westminster and pits the two companies against environmental campaigners and historic building devotees.
Opponents of the redevelopment allege that the scheme would release some 40,000 tonnes of carbon into the atmosphere.
Nearly 5,000 people have signed a petition by SAVE Britain’s Heritage, an historic buildings campaign group, against the proposal including travel author Bill Bryson who donated £500 to the campaign.
Selfridges was also previously reported to be looking to redevelop “underutilised space” at its own flagship Oxford Street store.