Retail Property - Oxford St flagship for New Look

New Look has signed up for a Oxford Street flagship store, just to the east of Marks & Spencer's Marble Arch shop.

The fashion retailer has signed a new 15-year lease on Land Securities' 500 Oxford Street, at a rent of£1.1 million a year. The property has recently been the subject of a£40 million redevelopment.

The store will comprise 160 sq m on the ground level and the entire 1,765 sq m first floor. New Look will take possession of the space this month and is expected to open for trade at the beginning of summer.

Land Securities retail leasing director John Grimes said: 'The letting to New Look confirms that there is still consistent demand for good quality retail floor space on Oxford Street. New Look's flagship offer is set to further broaden the range of fashion available on this section of London's favourite high street.'

Dalgleish acted for Land Securities and Churston Heard represented New Look.