MaxMara, Italy's ready-to-wear fashion brand, is restructuring its central London property holdings following the acquisition of Dunhill's 7,000 sq ft (650 sq m) store at 19/21 Old Bond Street.
MaxMara took an assignment of Dunhill's lease, and negotiated a surrender and the grant of a new lease from the property's joint landlords.
According to Keith Wilson, director of MaxMara's property advisor Wilson McHardy, this transaction was one of a few significant deals on Bond Street this year, because retailers find it increasingly difficult to acquire properties in the prime stretch from Burberry to De Beers.
Following the acquisition, MaxMara has reviewed its London property holdings and has decided to put its two existing boutiques at 157 New Bond Street - opposite Burberry and Louis Vuitton - and at 32 Sloane Street - opposite Hermes and Chanel - on the market. Wilson McHardy is marketing the two leases. 'Both are 100 per cent prime. It is a very unusual opportunity for a retailer to gain representation in London's two luxury pitches at the same time,' he said.
No comments yet