Harvey Nichols is casting the latest vote of confidence in Victoria, SW1, having decided to open a major office in the area.
The world-famous retailer has instructed agents at Montagu Evans to find 40,000 sq ft of office space in SW1, in one of the largest requirements currently being circulated in the West End.
Harvey Nichols, founded in Knightsbridge in 1831, has a 19,485 sq ft head office at 361-365 Chiswick High Road, W4, which it owns and is retaining. It has eight stores throughout the UK and Ireland, including its flagship in Knightsbridge, W8.
Victoria has seen a flurry of new leasing deals signed in recent weeks, with deals totalling nearly 100,000 sq ft signed by Advent International, Egon Zehnder, World Remit and Ten Alps.
The Victoria market has capitalised on the high prices forcing occupiers out of traditional West End office space. Catalysed by Land Securities’ regeneration of Victoria Street, the market has been transformed from a government-dominated area to a high-end district home to the headquarters of brands including Giorgio Armani and Burberry.
Prime office rents in the sub-market now stand at £75 per sq ft, according to Levy Real Estate.
