Ikea Oxford Street opening pushed back for second time

The home and furniture giant said the delay was caused by the discovery of water ingress in the Grade II listed building, which was formerly the flagship home of Topshop.

Ikea said the opening was now likely to be in spring 2025. The previous target for opening was autumn 2024.

The most recent delay marks the second time Ikea has had to change its plans for the store. Initially set to open in autumn 2023, this date was pushed back by a year to sustainably refurbish and preserve the building. 

The renovation covers all seven floors of the building outside Oxford Circus tube station, with plans to develop four floors of office space. Ikea said in a statement that it had made significant progress on the project so far. 

The retailer said the renovation had been “hugely complex” and some “unexpected conditions” were revealed as it progressed. 

Additional work on water ingress concerning the lower of the two basement floors is now under way. 

Peter van der Poel, managing director of Ingka Investments, part of the Ikea group, said: “Ikea Oxford Street is a one-of-a-kind project, involving the sensitive and sustainable upgrade of a Grade II listed building that is over a hundred years old.

“Following the discovery of an unforeseen water ingress issue, we’re now taking vital steps to mitigate long-term flood risk, and to protect and future-proof this historic building for many years to come.”

“In recent months, further progress has moved the project closer to the finish line, including: the removal of fossil-fuel gas-fired boilers and replacing them with energy-efficient air-source heat pumps; the complete replacement of all wiring, plumbing and fire protection throughout the building; conversion of the upper floors into office space; the installation of secondary glazing and the cleaning of the building’s iconic fascia, which has enabled the giant Frakta bag hoarding to be removed as of this month.”

Ikea UK chief executive and chief sustainability officer Peter Jelkeby said: “We’ve been overwhelmed by the interest and excitement generated around our Oxford Street opening.

“The historic nature of the building makes its careful renovation more complex, but we want to ensure Londoners that we’re just as excited to open the store as they are to visit it.

“We look forward to doing so in spring 2025 and contributing to a positive future for London’s most renowned shopping district.”