Topshop is in talks to open its second store on Oxford Street after its sister brand Evans agreed a deal to move out of its existing store on the UK’s busiest shopping street.
Plus-sized fashion retailer Evans has signed to open a 6,000 sq ft shop at 529 Oxford Street, at the western end of the street, and will now vacate its existing store at 538-540 Oxford Street.
Topshop is understood to be in talks with the landlord of Evans’ existing store, Great Portland Estates, to open a second Oxford Street store of between 15,000-20,000 sq ft in the property. It is thought the retailer will take a new lease on the store. It is not yet known if Wallis will stay in its current store which is adjacent to Evans’ existing shop, or if it too will vacate for Topshop.
Evans, which is expected to use its newly acquired unit to unveil an updated format, is understood to have agreed a rent of just under £1m for the new double-height, glass-fronted store. The developer, Korine Property Partners which is a subsidiary of SISK Group, let the other unit in the scheme to Japanese sports retailer Asics in April and the store will open later this month.
The new Evans store is expected to open before Christmas.
The deals come as the western end of Oxford Street is undergoing a revamp with the 300,000 sq ft Park House retail, office and residential development opening in the autumn.
BC Commercial advised Evans. Cushman & Wakefield and CBRE advised Korine Property Partners. CBRE is advising Great Portland Estates. All parties declined to comment.
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