Hines, the global real estate investment, development, and property manager, has secured an agreement with Abercrombie & Fitch which will see the fashion retailer open a new European store at 325 Oxford Street, in the heart of London’s West End.
Abercrombie & Fitch has agreed on a multi-year lease on the entire retail space, which covers two floors in the mixed-use retail and office building, which was acquired on behalf of the Hines European Value Fund 2 (HEVF 2) in March 2020.
Positioned at the super-prime location on the corner of Oxford Street and Bond Street, Abercrombie & Fitch will have an unparalleled shop window on the busiest shopping street in London, with prime double height frontage across the ground and first floor of the building. The retailer expects to move in and commence trading in early 2025.
The arrival of Abercrombie & Fitch signals a further boost to Oxford Street, which is currently undergoing a £90M investment programme to introduce improvements including wider pavements, seating areas and landscaping. A recent report commissioned by the New West End Company revealed that the revival of Oxford Street is forecasted to deliver a £2.8bn boost to the West End economy over the next decade.
In addition to retail, the 325 Oxford Street building incorporates 31,000sq ft of newly developed prime office space, designed by the award-winning Orms Architects. Established as “The Burlian” and arranged over the second to seventh floors of the building, it has been completed following a major refurbishment and extension and is now fully let to a range of occupiers.
