The move follows recent success for the bookseller, which increased sales by 9.6 per cent to£12.5 million in the year to last June. Operating profit before exceptional costs was£215,000 - the first time the retailer has been in the black for seven years. Foyles' Charing Cross Road store in the West End recently completed a£4 million refit and computer systems upgrade. Like-for-like December sales rose 17.9 per cent, bucking the poor Christmas trend.
Foyles chairman Christopher Foyle said: 'The Royal Festival Hall and Foyles are both internationally renowned brands, and there's an attractive synergy with both Foyles on Charing Cross Road and the South Bank offering a vibrant mix of musical, arts and literature programming.'
The store is expected to open in June.