Great Portland Estates has prelet 15,200 sq ft of retail space at 70 Oxford Street, W1, to competitive socialising operator Boom Battle Bar.
BBB has agreed a 15-year lease without break, at an initial minimum rent of £625,000 per annum plus a turnover top-up. It will receive six months rent-free plus a landlord contribution of £500,000.
The letting is conditional on obtaining a change of planning use and an alcohol licence.
It is the first central London venue for the operator, which offers games including axe-throwing, crazy golf, table tennis and augmented reality darts.
The location forms part of the redevelopment at 1 Newman Street & 70/88 Oxford Street.
BBB will occupy part of the ground floor and the entire lower ground level. Other tenants include Exane SA, which signed for 39,970 sq ft of offices last year.
Four double-height flagship stores totalling 25,900 sq ft and 41,630 sq ft of grade-A offices remain vacant at the scheme.
The development reached practical completion on 2 July 2021.
Marc Wilder, leasing director at GPE, said there was “encouraging interest in the remainder of the space”.
Rich Beese, co-founder of Boom Battle Bar, said: “Securing a prime site like this is as good as it gets in our industry.”
He added: “This site brings us a step closer to our strategic vision of becoming the UK’s pre-eminent experiential leisure company, and we are confident that our uniquely competitive offer, will resonate deeply with customers in London.”
Nash Bond and Kenningham Retail advised GPE on the deal.
Compare with other West End retail lettings >>
To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews
