New Look is to open a flagship store at the eastern end of London’s Oxford Street.
The fashion retailer has signed up to take a 31,800 square foot store at Great Portland Estates’ new development at 73/89 Oxford Street which is due to complete in April 2017. The store will include a basement, ground, first and second floors although the letting is conditional on GPE securing a change of use on the second floor from office to retail.
Danny Barrasso, UK managing director of New Look, said: “We’re very excited to be working with Great Portland Estates to deliver a world class New Look flagship store. This store, in what is going to be a prime retail location, strengthens our position as we continue to grow the New Look brand both in the UK and internationally.”
GPE commenced the 90,500 square foot new-build development at 73/89 Oxford Street, which is directly opposite the Dean Street entrance to the Tottenham Court Road Crossrail station, earlier this year. The development is the latest in almost 600,000 square feet of schemes GPE is working on at the East End of Oxford Street, an area expected to benefit from significant regeneration ahead of Crossrail opening in 2018.
Toby Courtauld, chief executive of GPE, said: “We are delighted to have secured New Look for our latest development at 73/89 Oxford Street, W1. We are creating a world class flagship store for them in this outstanding building in an increasingly exciting part of Oxford Street. The terms reflect the strong retail prospects in this part of Oxford Street and are positive for GPE’s ongoing and future developments.”