British retailer Fortnum & Mason has agreed a deal with Oxford Properties to open a retail and dining destination at the Royal Exchange, EC3.
The shop is expected to open in October, subject to planning.
Fortnum & Mason will occupy two positions at the Royal Exchange. The 2,368 sq ft retail space will offer products from Fortnum’s flagship Piccadilly store, including a range of its teas, preserves and hampers alongside a confectionery counter and a fresh produce offer.
Separately, in the the Royal Exchange’s courtyard, Fortnum & Mason will create a dining and bar area with up to 90 covers.
The Royal Exchange, owned by Oxford Properties since 2013, and was Oxford Properties’ first retail acquisition in the UK. Located opposite the Bank of England, the former City trading floor now comprises 51,400 sq ft of retail space and accommodates more than 30 retail boutiques set around a central courtyard. Occupiers include Hermès, Smythson, Watches of Switzerland, Boodles and Tiffany & Co.
Deborah Green, director of asset management at Oxford Properties, said: “The opening of Fortnum & Mason will be a memorable moment in the Royal Exchange’s storied history.”
Fortnum & Mason chief executive Ewan Venter said: “Our arrival at the Royal Exchange brings together two iconic London institutions with a shared history in trade and commerce, and a shared passion in architectural heritage.”
Fortnum & Mason was advised by JLL and Osborne Clarke; Oxford was advised by CBRE and Gowling WLG.
To send feedback, e-mail amber.rolt@egi.co.uk or tweet @AmberRoltEG or @estatesgazette
