GPOR.L Share News (GPOR)

(Sharecast News) - Great Portland Estates announced on Monday that its joint venture, the GHS Limited Partnership, has pre-let the first flagship store at 64 New Bond Street to the luxury Italian menswear brand Canali.
The FTSE 250 company said Canali had signed a new 10-year lease on the "prominently-located" store on the corner of New Bond Street and Brook Street, providing them with a prime unit of 5,014 square feet over three floors.

It said 64 New Bond Street formed part of the Hanover Square mixed-use development which, once completed, would provide 167,200 square feet of Grade A offices, 33,500 square feet of retail predominantly fronting New Bond Street, an 8,300 square foot restaurant and six residential apartments totalling 12,200 square feet.

Canali would join Glencore and KKR, which had pre-let 111,100 square feet of offices for their new European headquarters.

"Canali's name has been synonymous with tailor-made Italian luxury since 1934 and we are delighted with their decision to relocate from their current store in New Bond Street to our exceptional development," said Great Portland Estates leasing director Marc Wilder.

"Canali will start trading during 2020 and we are encouraged by the level of occupier interest in the remaining space."

Paolo Canali, group commercial director at Canali, said the brand was "excited" to acquire the prominent corner for its Bond Street flagship store and be part of a "prestigious" development.

"The superior quality of this retail accommodation will allow Canali to showcase its exquisite collections in a store outfitted to reflect a brand steeped in Italian culture, history, style and taste."