Central Group, the new owners of Selfridges are planning to open a luxury hotel and serviced apartments following major revamp of its Oxford Street store in central London.
The old Selfridges Hotel closed in 2008 and the building has been empty ever since.
The redesign of the Oxford Street site, which the retailer has occupied for more than 100 years, will also include an upgraded food hall.
The new initiative comes as the retail market in the UK faces difficulty due to Covid-19 measures, with many department stores experiencing a harsh environment and closures.
We will monitor developments.