Benetton to open new Oxford Street store
It's all change ahead at Oxford Street, London's main shopping street, as the city prepares for the coming Crossrail network to open. Italian fashion brand Benetton has now signed for a flagship retail store opposite the new station.
The company has signed a 20-year lease for the 15,300 sqft. flagship retail store at £2.6 million per annum. It will have New Look for a neighbour - the British fashion company pre-let a 31,800 sqft. store in the building in March 2015.
There is still 43,400 sq. ft. of Grade A offices in the development, which is set to be completed in April 2017. Facebook has an option to occupy which expires on 31 March 2016.
Neil Thompson, Portfolio Director of GPE said “We are delighted to welcome Benetton into the portfolio. Securing one of the world’s top retailers in this high quality development, opposite a Crossrail station, continues the exciting regeneration of the eastern end of Oxford Street."
"This transaction was amongst a number of strong leasing successes for the Group this quarter, and with a further £2.7 million of space currently under offer, our 1.2 million sq. ft. development pipeline continues to attract significant leasing interest. We look forward to further profitable pre-lettings.”
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