The Mercers’ Company has secured a flurry of new retail deals across its estate in Covent Garden, WC2.
Together the lettings, on Long Acre and Neal Street, total 11,200 sq ft.
Average achieved retail rents in Covent Garden over the past six months have been around £78 per sq ft, according to EG Radius data.
Womenswear brand Nobody’s Child has taken 2,044 sq ft at 3 Neal Street for its new London flagship. The two-storey store will be the brand’s largest shop to date, joining locations on Carnaby Street and Spitalfields.
Jody Plows, chief executive at Nobody’s Child, said: “After a successful pop-up on Long Acre last year, we knew Covent Garden was the ideal location to launch our third permanent site.
“Finding the perfect unit for our flagship was key and 3 Neal Street, located just off the bustling Long Acre, surrounded by leading fashion and beauty brands, is exactly what we were looking for. We are excited to launch our largest store to date and can’t wait to welcome our community to our new Nobody’s Child store.”
SpaceNK is almost doubling its presence on Neal Street, taking a 4,285 sq ft shop at 5-7 Neal Street. The move marks an 80% uplift in space for SpaceNK.
At 117 Long Acre, womenswear brand Whistles has taken 3,669 sq ft for a new London flagship, while a few doors down at 120 Long Acre, Samsonite-owned French luggage brand Lipault has secured its debut store, signing a lease on 1,206 sq ft.
Simon Taylor, property director at the Mercers’ Company, said: “The letting of 11,200 sq ft of prime retail space on Long Acre and Neal Street to such leading brands is a significant endorsement of in-person shopping, as well as the strength of Covent Garden.
“As one of the most popular shopping destinations in Europe, Covent Garden continues to thrive, as evidenced by Nobody’s Child’s selection of Neal Street to launch its flagship store; SpaceNK’s 80% increase in size and reinvestment in the area; Lipault’s decision to launch its UK debut; and Whistles’ choice to make Long Acre a permanent home.”
Hanover Green advised the Mercers’ Company. Knight Frank is the Mercers’ asset manager on the estate.
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