Picton has signed a 10-year lease agreement with the Amsterdam-based lifestyle and fashion brand Scotch & Soda. The new store comprising on 250m² of space is located in Long Acre, Covent Garden. The lease is due to start in May 2022 and will generate €0.6m (£0.5m) per annum.
Jay Cable, Head of Asset Management at Picton, commented: “We are delighted to be able to support Scotch & Soda’s plans for international expansion by welcoming them to our flagship Long Acre retail store. It is a fantastic space located in one of the busiest streets of Covent Garden in an area renowned for its luxury fashion and beauty stores as well as award-winning restaurants and theatres. This transaction also marks the completion of the letting of the building and highlights the quality of our comprehensive refurbishment programme that included the renovation of 1,140m² of office space on the upper four floors, a 5th-floor residential penthouse and the ground floor retail unit.”
Frederick Lukoff, CEO at Scotch & Soda, commented: “The growth momentum our brand saw last year continues to strengthen, with 20 more locations launching globally over the next six months. We are looking forward to the opening of our flagship store London, one of the world’s most attractive fashion retail destinations. It is a great opportunity to reach new customers, and to introduce them to our brand, inspired by the free spirit of Amsterdam.”
The interiors of the new locations will carry Scotch & Soda's "Free Spirit" store design concept launched last year. Inspired by the power of self-expression and the free spirit of Amsterdam, the city where the brand was born, the concept combines warm colours and sleek design elements to connect the expected with the unexpected, and includes sustainable features such as LED lighting, FSC-certified wood herringbone flooring and new hangers made of recycled materials.
