Rent records broken as Belstaff acquires trophy building on Bond Street (UK)

The iconic British brand Belstaff, owned by luxury group Labelux, has leased 135/137 New Bond Street in its entirety, setting a record for the highest rent paid on Bond Street for a new open market letting.

Belstaff will re-launch its historic British brand from this flagship 'maison' store, taking a new 20 year lease on the entire building, and paying a record £3 million (€3.6 mln.) rent (equating to £840 Zone A).

The striking Grade 2 listed building, to be re-named Belstaff House, totals approximately 25,000 ft² (2,300 m²) and is arranged over six floors.

Charlie Hammond of HDG on behalf of the freeholder comments: "This letting demonstrates the demand from global luxury brands for major flagship stores on Bond Street. It also highlights the sustained importance of Bond Street to the luxury sector and its continued buoyancy."

Anthony Selwyn, retail director at Savills and the freeholder's agent, comments: "Belstaff will create a wonderful store and the deal demonstrates the continued expansion northwards of the prime pitch on Bond Street. Miu Miu, Hublot, Coach, Fendi, Tori Burch and now Belstaff are testament to that."

Belstaff were represented by Cushman & Wakefield.

Source: Savills

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