Retail Property - Prime Oxford St store for booming Ann Summers

Ann Summers has taken a store at 522 Oxford Street - its first branch west of Oxford Circus - as part of its drive to develop a 100-strong store chain by the end of 2003. The store is opposite the Allders department store and close to new units for New Look and Monsoon. It has been taken on a lease on a 280 sq m, two-level unit at£300,000 a year.

Calum Ewing, associate at Ann Summers' property advisor Chesterton, said the lingerie and sex toys retailer had 80 sites open or fitting out at present, with another five under offer meaning that the target of 100 stores was achievable.

'We're looking to acquire several more central London sites, mainly in fashion pitches. We've found the Ann Summers brand sits well alongside names like Morgan and Kookai,' he said.