Primark is to open another store on famous shopping destination Oxford Street at the eastern end of the road.
The value fashion retailer – which already has a flagship at the west end of the street towards Marble Arch – will open a 85,000 sq ft shop in the buildings previously occupied by Virgin/Zavvi, a new build at 18/24 Oxford Street plus space previously occupied by Sports Direct and a unit on the side at Tottenham Court Road.
The space will be let from Frogmore Real Estate Partners Investment Managers, advisers to Oriana, the Frogmore Real Estate Partners/ Land Securities 50/50 joint venture.
Construction started on the site at the beginning of June and will be completed by June next year.
The letting will lift the east end of Oxford Street, which has traditionally been tarred by temporary lets. The east end will also benefit from the improvements with Crossrail.
Paul Marchant, Primark’s chief executive, said: “We are pleased to be part of this redevelopment plan and we hope that the new Primark store will act as a key catalyst for the regeneration of the Tottenham Court Road end of Oxford Street.”
Richard Linnell of Land Securities said, “This deal is further evidence that for the right spaces in the right places, retailers are still keen to grow their presence and further cements the attraction of Oxford Street as a major retail centre.”
Thomas Davidson represented the Oriana JV and Harper Dennis Hobbs acted for Primark.