British brand Belstaff has secured a new store at 135/137 New Bond Street, W1, setting a record for the highest rent paid on Bond Street for a new open-market letting.
Belstaff will pay a £3m annual rent, equating to £840 zone A, on the maison store. It will take a new 20-year lease on the entire building.
The grade II-listed building, to be re-named Belstaff House, totals around 25,000 sq ft and is arranged over six floors.
Charlie Hammond of HDG, on behalf of the private landlord, said: “This letting demonstrates the demand from global luxury brands for major flagship stores on Bond Street. It also highlights the sustained importance of Bond Street to the luxury sector and its continued buoyancy.”
Anthony Selwyn, retail director at Savills, which advised the landlord, said: “Belstaff will create a wonderful store and the deal demonstrates the continued expansion northwards of the prime pitch on Bond Street. Miu Miu, Hublot, Coach, Fendi, Tori Burch and now Belstaff are testament to that.”
Cushman & Wakefield acted for Belstaff.
annabel.dixon@estatesgazette.com
