AXA Real Estate Investment Managers has completed 12,700 sq ft of lettings to expand the size of both Victoria’s Secret and Hugo Boss’s flagship UK stores on New Bond Street, W1.
The investment manager has signed a new lease with Victoria’s Secret for more than 6,700 sq ft at 116/117 New Bond Street on behalf of the building’s owner Royal London,.
The new lease will see Victoria’s Secret significantly enlarge its first flagship store outside of the US by expanding its current premises at 111-115 New Bond Street , on the corner of Brook Street, into the store at 116/117 New Bond Street.
Victoria’s Secret will assign the former occupier’s lease and simultaneously take a new lease alongside and with the same expiry as its existing lease.
This is AXA’s second major asset management initiative in the district, following a deal with Hugo Boss.
Last week, the German fashion retailer signed for a new 15-year lease at 120-122 New Bond Street that will double its flagship London store to around 6,000 sq ft.
Under the terms of this agreement, Hugo Boss will extend its existing premises at 121/122 New Bond Street into the adjacent store and will be refurbished, subject to planning permission.
bridget.o’connell@estatesgazette.com
