As part of the proposal, the department store chain is set to consult with local stakeholders on the best course of action, with the aim of delivering sustainable office space.
Under current plans, the Marble Arch store will be converted into a “modern retail environment”, equipped with the best digital shopping technology for customers and staff.
Sacha Berendji, M&S’s Retail, Property and Operations director, said: “The launch of our proposal to redevelop Marble Arch today is the latest example of how we are shifting gears in creating a store estate fit for the future.
“Under our Never the Same Again programme we are focused on emerging stronger from the pandemic, and today’s proposal not only means we can redevelop and modernise our store so that it better serves the local community on the UK’s destination high street, but by taking an assertive approach to the management of our asset base we can unlock additional value from the site at the same time and further support our transformation.”
He added: “We are really excited by the proposal and would encourage the local community to share views with us through our public exhibition which kicks off today.”