(Alliance News) - Great Portland Estates PLC on Thursday announced it has pre-let 15,200 square foot of retail space on Oxford Street to Boom Battle Bar, a franchise of bars which offers competitive games alongside food and drinks to its customers.
The London-focused property investor and developer said Boom Battle Bar has agreed a fifteen-year lease at an initial minimum annual rent of GBP625,000 plus a turnover top-up.
The site, which is at 70 Oxford Street in London, forms part of Great Portland's W1 redevelopment in central London.
"Retail is evolving to become more experiential and we're delighted that Boom Battle Bar has chosen to open their first central London venue in our best in class development," commented Leasing Director Marc Wilder.
"The quality and location of the building are clearly resonating with both retail and office occupiers alike and we have encouraging interest in the remainder of the space."
Shares in Great Portland were trading up 1.2% at 743.50 pence each in London on Wednesday morning.
By Will Paige; willpaige@alliancenews.com
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