Decision on fate of flagship Marks & Spencer store due in weeks

  • Angela Rayner to block or approve proposals for shop before or on December 5 
  • M&S seeking permission to raze its 1929 art deco flagship near Marble Arch 
  • Boss Stuart Machin plans to open even more stores

Marks & Spencer will learn the fate of plans for its flagship Oxford Street store within weeks as it plans to open ten more shops.

After a planning row, Deputy Prime Minister Angela Rayner is set to block or approve proposals for the London shop before or on December 5.

And boss Stuart Machin has planned to open even more stores, the Mail understands, as a turnaround at the High Street retailer is in full swing.

M&S is seeking permission to raze its 1929 art deco flagship near Marble Arch and build a larger ten-storey retail and office block in its place.

Former housing secretary Michael Gove blocked the plans last year and an appeal was delayed by the general election. Machin branded the decision ‘utterly pathetic’ and said the proposals would help revitalise the area.

Planning row: M&S is seeking permission to raze its 1929 art deco flagship near Marble Arch and build a larger ten-storey retail and office block

The M&S boss accused Gove of ‘an anti-business approach, choking off growth and denying Oxford Street of thousands of new quality jobs’.

Machin scored a victory in March when High Court Judge Mrs Justice Lieven concluded that Gove had made a series of errors in his interpretation and application of planning policy.

But the retailer has also faced opposition over the plans from heritage campaigners, including London Eye architect Julia Barfield and Grand Designs presenter Kevin McCloud.

Last week M&S hailed bumper profits of £391.9m for the six months up to October, 20 per cent higher than last year.

And Machin was ‘very confident’ of a great Christmas with a range of party frocks designed with actress Sienna Miller flying off the shelves since their launch earlier this month.

In its half-year results, sales rose 5.8 per cent to £6.5billion – thanks to the group appealing to a broader base of shoppers.

M&S has approval for 70 more stores, under plans for 180 full-line shops and 420 food outlets by 2028.

The proposals now include five extra full-line shops and five more dedicated food stores, The Mail understands.

DIY INVESTING PLATFORMS

Easy investing and ready-made portfolios

AJ Bell

Easy investing and ready-made portfolios

AJ Bell

Easy investing and ready-made portfolios

Free fund dealing and investment ideas

Hargreaves Lansdown

Free fund dealing and investment ideas

Hargreaves Lansdown

Free fund dealing and investment ideas

Flat-fee investing from £4.99 per month

interactive investor

Flat-fee investing from £4.99 per month

interactive investor

Flat-fee investing from £4.99 per month

Get £200 back in trading fees

Saxo

Get £200 back in trading fees

Saxo

Get £200 back in trading fees

Free dealing and no account fee

Trading 212

Free dealing and no account fee

Trading 212

Free dealing and no account fee

Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.

Compare the best investing account for you



***
Read more at DailyMail.co.uk