Versace is quitting its flagship London store at 113-115 Bond Street, W1.
The fashion giant is looking to dispose of its lease on the 13,500 sq ft store, which is owned by Co-operative Insurance Society.
It has 17 years left on its 25-year lease, and will be seeking a premium of £2.5m.
The passing rent is £850,000 pa.
Versace, which is concentrating on its Gianni Versace brand, has also initiated a search for a smaller store on Old Bond Street.
Dalton Warner Davis is advising Versace.
References: EGi News 28/02/05
