Zara zeroes in on record fifth Oxford St store

The fashion chain Zara plans to open a record fifth store on London's Oxford Street, reinforcing the buoyant demand for prime retail property in the capital.

Zara, owned by Spanish giant Inditex, already has three shops there and has signed up for a fourth in the street's Park House development, which opens next year. It has applied for planning consent on a fifth store at 61-65 Oxford Street near Tottenham Court Road Tube, which is getting a £1bn redevelopment for Crossrail. If, as expected, Zara's planning application is successful, the store opening is likely to be next year. Zara also has two stores in nearby Regent Street.