Spanish fashion brand Pull & Bear has agreed a pre-let at Aviva’s £95m Oxford Street scheme.
Amancio Ortega’s Inditex, which owns Pull & Bear, will pay more than £2m per year for a 15,000 sq ft shop close to Oxford Circus station.
It will occupy the lower floors of Aviva’s 50,000 sq ft redevelopment of 287 Oxford Street and 11-12 Hanover Square, SW1.
The nine-storey scheme also includes seven floors of office space totalling 35,000 sq ft, accessed from a separate entrance on Hanover Square.
Aviva has already demolished the existing buildings after planning consent was granted last year.
Building work is expected to complete in 2015.
The prime Oxford Street frontage was previously occupied by American themed restaurant group Garfunkels.
Pull & Bear, which is part of a stable including Zara, Bershka and Massimo Dutti, already has a 17,200 sq ft shop at 315-319 Oxford Street, which it leased from Legal & General in 2009.
Inditex has more than 6,000 shops globally, while Ortega’s investment business Ponte Gadea has invested over £1bn in London real estate.
CBRE advised Aviva Investors.
