Colliers International and Savills instructed as leasing agents for 5,000sq ft of new retail space on London’s premier shopping street. Hines, the international real estate firm, has launched the retail space available to lease in the flagship new store it is developing on the north side of Oxford Street, located above the Bond Street Underground station, in the heart of London’s West End.
Oxbourne House (354 Oxford Street) will comprise over 5,000 sq ft of best-in-class retail space across the basement, ground and first floors, with the detached building providing a stunning 25 metres of double height frontage in a prominent position in the busiest shopping street in Europe. Bond Street station is one of the main Elizabeth line stations and footfall is expected to significantly increase in this location when the line opens in 2021.
Hines acquired the development site from Transport for London (TfL) earlier this year on behalf of the Hines European Value Fund and is creating a high-quality residential accommodation across the four upper floors. Totalling 11 apartments of one to three bedrooms, the residential units have already been let to Portland Brown, the global corporate housing provider, who have agreed a 15-year lease.
Leading real estate advisors Colliers International and Savills are supporting Hines in selecting a prime retailer to lease the space. The retailer will join the world’s largest cluster of iconic stores and global brands on an internationally famous street with the highest footfall in Europe.
Emme Haycock, Asset Manager, Hines UK, said: “Oxford Street is one of the most iconic, popular streets in London, visited by over 4 million people each week. It’s rare for a brand-new retail development to arrive on the street so this represents a unique shop window in an unparalleled location alongside the world’s biggest shops and brands.
“Oxford Street never stands still and is currently undergoing a transformation with heavy investment to upgrade public realm and create more pedestrian space. We’re proud to be part of this evolution and believe Oxbourne House represents a fantastic addition to the street which fully merits the prestigious address.”