(Alliance News) - London-focused property firm Great Portland Estates PLC said Monday a joint venture had pre-let its first flagship store on London's New Bond Street to Italian luxury menswear brand Canali.
GHS Ltd Partnership - a joint venture of Great Portland - pre-let Canali a 5,000 square feet unit at its 64 New Bond Street property to the family-owned firm on a 10 year lease.
No financial details for the lease were provided.
"Canali's name has been synonymous with tailor-made Italian luxury since 1934 and we are delighted with their decision to re-locate from their current store in New Bond Street to our exceptional development," Great Portland Leasing Director Marc Wilder said. "Canali will start trading during 2020 and we are encouraged by the level of occupier interest in the remaining space."
GHS has already let over 110,000 square foot of office space at New Bond Street to mining firm Glencore PLC and investment firm KKR & Co Inc.
In total, 64 New Bond Street will comprise 167,200 square foot of office space and 33,500 square foot of retail space as well as 8,300 square foot of restaurant space and 12,200 square foot of apartments.
Shares in Great Portland were 0.1% higher at 798.60 pence in London on Monday.
By Ahren Lester; ahrenlester@alliancenews.com
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