Fashion retailer Kookai, which emerged from administration following a partial management buy-out last year, has taken new shops in London and Manchester and revealed plans for three more in Leeds, Nottingham and Glasgow.
At 66 High Street, Hampstead in north London, Kookai has paid a £13,500 premium for a shop providing 600 sq ft of ground-floor space and 550 sq ft split between basement and first floor.
The unit was assigned by India Jane on a 25-year lease dating from 1989 at a passing rent of £65,000 pa, reviewable five-yearly.
Ereira Mendoza & Co, the assignor’s agent, reports that this is the first deal to achieve a premium in the location for a considerable period.
And, in Manchester, Kookai has taken the former David Mellor unit at 66 King Street. It provides 1,263 sq ft on the ground floor plus 1,424 sq ft of basement space. The 25-year lease dates from 1980, with fiveyearly reviews. Passing rent is £68,500 pa and the incoming tenant paid a £50,000 premium for the premises.
Ian Scott & Co is retained by Kookai and represented the retailer in both deals. According to Alan Scott, shops are now being sought in Leeds, Nottingham and Glasgow.
