International real estate advisor Savills and joint agents Kenningham, on behalf of landlord Lazari, has completed the letting of 100 Oxford Street to MINISO. The globally recognised lifestyle retailer has signed a five-year lease for its new flagship store, following Claire’s, Ann Summers and Intimissimi all signing new agreements in the block over the last nine months.
The property provides approximately 3,200sq ft of retail accommodation on the ground floor.
This deal follows the recent letting at 184-188 Oxford Street to Dr Martens and highlights the increasing activity of retailers looking to grow their brand on Oxford Street.
The property is located at the eastern end of Oxford Street which is primed for further growth in line with the new line interchange at Tottenham Court Road Station, which is seeing a 73 per-cent uptick in underground passengers each day.
Callum White, Central London retail & leisure agent at Savills, said: “Oxford Steet is undergoing huge transformation, strengthening its position as a world-class shopping destination. This, combined with improved transportation links, has seen renewed interest among global retailers and we’ve seen a surge in activity as a result.”
Sam Foyle, co-head of prime global retail at Savills, adds: “This influx of new global brands on Oxford Street continues at pace. In recent months we have seen Dr Martens, Rituals, Pandora, Foot Asylum, Reserved, Under Armour, PSG, Samsonite, HMV and Kurt Geiger take space, the majority replacing candy shops and breeding new life into Oxford Street. We expect to be announcing further brands in the coming weeks as the revival of Oxford Street continues at pace.”
Saad Usman, chief operating officer at MINISO UK, expressed: “Opening MINISO’s doors on Oxford Street is not only a landmark moment as MINISO’s biggest store to date in the UK, but it also becomes our 23rd store nationwide. This new store, nestled in the heart of London’s most famous shopping street, signifies our continued growth and commitment to bringing joy to everyone.”
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