Waterstone's opens new branch on Oxford Street

<p>Waterstone&#39;s is to open a new branch on Europe&#39;s busiest shopping street in time for Christmas this year. </p><p>The 4,000 sq ft branch will span two floors in the Oxford Street Plaza in central London this autumn. It will be replace the current Evans clothing store, which faces out onto the street.</p><p>Waterstone&#39;s managing director Gerry Johnson said in a statement: &quot;As the high street&#39;s leading book retailer, we are delighted to have acquired such a great space, particularly so soon after the enforced closure of our previous store in this part of Oxford Street. The new location in the Plaza will allow us to capture the Soho and Oxford Circus markets, and provide visitors to the UK&#39;s busiest shopping district with two floors of inspiring books and gifts just in time for Christmas.&quot;</p><p>It bucks the trend of booksellers abandoning Oxford Street, amid increasing rents and challenges for high street retailers. Borders announced in July that it had sold its flagship Oxford Street branch to fashion chain New Look. </p><p>In December last year, Waterstone&#39;s announced the closure of its branch next to Tottenham Court Road Tube station because of the Crossrail transport development due for completion in 2017. Waterstone&#39;s also closed its flagship store at 311 Oxford Street in May 2007. But the branch opposite Selfridges department store remains. </p><p>W H Smith is the only other bookseller on Oxford Street, also with a branch in the Plaza. </p>