Polish fashion retailer Reserved has leased a new London flagship store at 70/88 Oxford Street, in London, from GPE.
Reserved has taken 19,645 sq ft over the ground and first floors of the development, which is now 96% let or under offer, according to GPE. The new store will open next year.
Sarah Goldman, senior portfolio manager at GPE, said: “I am absolutely thrilled that we have signed our latest retail deal with Reserved. Since their UK launch, the brand has created quite the buzz across the market and complements our wider West End offering with experiential adventure bar Boom: Battle Bar.
“Together both brands will help create a day-to-night destination on the doorstep of the Elizabeth line station at Tottenham Court Road. We look forward to welcoming Reserved to the building, and the opening of Boom: Battle Bar, and foresee the huge appeal both brands will have to Londoners and tourists in the area.”
Krzysztof Bocianowski, leasing and expansion director at LPP Group, which operates the Reserved brand, said: “LPP is delighted to have secured this location for our flagship brand which will serve to increase our profile in the UK even further. Following a number of challenging years for London and retail in general we are committed to growing our business in the UK and this will form a new phase of our growth, not just in London but also in other key western European markets.
“Our UK business is showing great potential and we are looking forward to showcasing our brand to London, as well as the wider UK market over the coming years.”
Richard Scott, executive director at Nash Bond, joint agent on the development with Kenningham, added: “This is great news for retail in the West End and Oxford Street – confirmation that London’s main flagship thoroughfare is attractive to global brands. Since the opening of the Elizabeth Line in May this year, footfall has risen 20% at the Dean Street entrance and we have received strong demand from brands throughout 2022.”
