A joint venture between a Meyer Bergman-advised investment fund and Warrior Group aims to give the once grand Grade II-listed department store in Bayswater a new lease of life.
The Foster + Partners designed £1bn mixed-use scheme will see 500,000-plus sq ft of homes and shops built behind the existing 1911 facade.
The mixed-use development will also include a 111-room hotel. four-screen cinema and gym.
Specialist contractor Erith is well advanced with demolition at the site.
The scheme will open onto Queensway, which is also planned to undergo a £50m revamp.