Gerald Ronson could soon have a new fashion tenant on his hands on London’s Regent Street.
Ronson’s Heron International bought the Jaeger store at 200 Regent Street, W1, from Dawnay Day in the autumn for around £35m.
However, the luxury British clothing brand is considering moving to smaller premises ib the street and is entertaining off-market interest in its 19,000 sq ft flagship.
Jaeger owner Harold Tilman has received speculative bids of around £3m, thought to be from US fashion brands. The lease has around 12 years unexpired and the rent is around £1.8m pa.
Heron bought the long leasehold after it was put up for sale for £41.5m – a 5.75% yield – shortly befdore the collapse of Guy Naggar’s and Peter Klimt’s Dawnay Day.
Franc Warwick handled the sale, which was seperate to the 211-strong Dawnay Day portfolio sold off by lender Norwich Union to Leo Noe and Apollo Real Estate Managers this month.
Tilman has previously been linked to a bid for retailer Austin Reed, also owned by Naggar and Klimt. Its Regent Street flagship was included in the portfolio sale.
CWM is advising Jaeger; CBRE is advising Heron.
