Selfridges has unveiled plans for a £300m hotel, leisure and office complex at its flagship store in London's Oxford Street.

The group has submitted a planning application for a 12-storey high extension, in conjunction with developers, Stanhope, which includes a new five star 336-room hotel with a restaurant offering panoramic views of London, leisure facilities including a swimming pool and spa, and a replacement underground car park. As well as providing around 300,000sq ft of prime office space, the scheme would enlarge the store by 19 per cent creating an additional 100,000sq ft of retail space.

Designed by Foster and Partners, the scheme which will cost in the region of £300m. Stanhope will arrange the financing of the project and will hold a 175-year lease on the development once completed.

'We want to do for Oxford Street what Gordon Selfridge did in 1909 - to make a difference,' said Selfridge's chief executive Vittorio Radice.