Great Portland Estates PLC GPE announces new Oxford Street leasing (4236H)

TIDMGPE

RNS Number : 4236H

Great Portland Estates PLC

24 November 2022

GPE announces fashion retailer Reserved signs new flagship store

at 70/88 Oxford Street, W1

GPE has announced today that fashion retailer, Reserved, has leased a new London flagship within its prestigious development at 70/88 Oxford Street. Alongside Boom: Battle Bar, this deal takes GPE's retail lettings to 96% let or under offer.

Reserved will occupy 19,645 sq ft over the ground and first floors. The store will stock the brand's well-known fashion apparel for women, men and children and is set to open later in 2023. This will be Reserved's second anchor store in London following their first UK debut on Oxford Street West in 2017.

Reserved will join Boom: Battle Bar, who occupy 15,600 sq ft and are due to open their iconic competitive socialising escape room concept pre-Christmas, featuring adventure bar activities including Bavarian Axe Throwing. Further to these lettings, there is just one remaining ground floor retail unit of 2,300 sq ft available, which benefits from eight metre double-height frontage and a prime location opposite the entrance to the new Elizabeth line station.

Sarah Goldman, Senior Portfolio Manager, commented: " 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 LPP Group added: "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."

This latest deal with Reserved follows the recent news that GPE has fully leased all of the above office space at 1 Newman Street, totalling 80,700 sq ft.

Contact details

Sarah Goldman

Senior Portfolio Manager

+44 (0) 7435 989 967

Yasemin Kiani

Corporate Communications Manager

   +44 (0)   7435   989   963

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