Iconic high street store to become luxury £220-a-month gym loved by Prince Harry

An iconic department store which was a fixture of central for decades will soon be home to a luxury gym counting famous fans including .

318 Oxford Street had been a flagship store for for over 80 years before it exited three years ago, leaving the building empty.

Last year, it was revealed that the 1930s German art deco building would be undergoing a £132million renovation to adapt it to new uses, with the works bringing a large office, shops, a roof-top restaurant, a swimming pool complex, and a gym.

London-based developer Publica Properties is transforming the block, which will reopen as “The Elephant” into a 34,000-square-metre mixed-use site.

Three floors are set to become a branch of Third Space gyms, a luxury gym which has reportedly attracted high-profile punters including the Duke of Sussex, David Beckham, Andrew Garfield, and power couple Tom Holland and Zendaya.

Memberships are reportedly upwards of £220-per-month, as per .

The chain, which already has 13 locations in the UK, is the first tenant to sign a lease at the building and hopes to open in 18 months following the scheduled completion of the renovations, as per .

Built over three floors, the gym will reportedly feature a reception on the ground floor, studios, a gym floor, and what it calls a “tranquil wet spa”.

The company has also leased parts of the basement and first floor.

Third Space CEO Colin Waggett, said: “This space and proportions in this building, along with the Vision of Publica Properties demonstrated through the redevelopment, creates a stunning venue for a new Third Space club in the heart of the West End.

“We will be bringing the latest edition of our fitness and wellness offering to Elephant, serving the building occupiers and the neighbouring community, as this part of the ongoing transformation of this part of London,” he added.

Sophie Willson of the Chartered Commercial Property Surveyor Willson Green, which represents Publica Properties, said: “We are really excited about the re-invention underway at this former department store.

“Retaining as much of the original building as possible, we are not only prioritising the environment, but also embracing the original character of the building as we re-use and re-purpose the property to serve the needs of the occupiers, their employees and their visitors today and into the future.

“We are absolutely delighted to have signed Third Space and look forward to securing other quality businesses and brands for the retail, office and restaurant spaces,” she added.