M&G has let two floors of its £250m The Ribbon redevelopment on London’s Oxford Street to Warner Bros Global Experiences (Warner Bros Discovery) for a Harry Potter flagship store.
The store, which is due to open later this year, will become a “wizarding emporium” filled with photo opportunities, interactive experiences and exclusive merchandise. Warner Bros already operates Harry Potter stores in New York, Chicago and Tokyo.
Martin Towns, global head of real estate at M&G Real Estate, said: “London’s Oxford Street continues to attract world leading brands and we’re delighted to welcome Warner Bros Discovery to The Ribbon later this year. The team behind this world class development is supporting the opening of the UK’s first flagship Harry Potter store through the scale and quality of space needed for modern, experience‑led retail. Across our global portfolio, demand is strong for best‑in‑class, prime located spaces that create resilient, income producing assets for years to come.”
Ciaran Mulligan, chief investment officer at M&G Life, added: “This deal shows how the high street can bring some magic to your pension investments. The Ribbon is all about creating places people want to visit, while delivering long‑term value for our customers. Through the scale of the With‑Profits Fund, we can take on major redevelopments like this and turn historic sites into vibrant destinations that support our customers for years to come. By working closely with the real estate asset management team, we’re helping to bring new life to Oxford Street and create a space that benefits shoppers, the local community, and supports regeneration and economic activity in such an iconic destination.”
Karl Durrant, Warner Bros senior vice president, worldwide retail, said: “Warner Bros Discovery is proud to open our first UK flagship Harry Potter Shop on Oxford Street, one of the world’s most renowned and esteemed shopping destinations. We appreciate the partnership with M&G on this new venture at The Ribbon. The shop will offer fans an original and unique retail experience in the centre of London.”
