Hermes Investment Management has signed up luxury British accessories retailer Mulberry for a 5,000 sq ft store at 100 Regent Street, as tipped by Property Week.
The new store was formerly part of the Austin Reed flagship, which has now been split to create three separate units after the brand went into administration in 2016.
A further two new retail units at 92 – 100 Regent Street will be launched later this year offering a further 26,650 sq ft of flagship retail space.
Mulberry will take a 10-year lease on the property which is situated in a prime location on the corner of Regent Street and Glasshouse Street, opposite the Burberry flagship store.
The retailer, which is famous for its leather handbags, already has a flagship store on New Bond Street and other London branches in Covent Garden, Brompton Road, St Christopher’s Place and both the capital’s Westfield centres.
Ian Cody, director - asset management at Hermes Investment Management, said: “Following an extensive period of asset management, we are pleased that the remodelling of the building has completed. Securing a luxury global brand such as Mulberry is testament to the work we have undertaken on the property, and Regent Street’s appeal as an international retail destination. We are hoping to announcing further lettings in the near future.”
CBRE acted on behalf of Hermes Investment Management. Jonathan Eastwood, senior director, central London retail at CBRE, added: “Demand for space in London’s West End remains strong with a number of international and domestic retailers still looking for new stores in premium brand locations.”
The new store opening date is yet to be confirmed.
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