Jack Wills prelet boosts Covent Garden development
Published: 12 February, 2010
Shaftesbury and the Mercers’ Company have kickstarted the marketing of the 67,000-sq ft St Martin's Courtyard scheme in London’s Covent Garden with a pre-letting to Jack Wills.
The scheme is 40 per cent let by floorspace ahead of its September 2010 opening date, although Shaftesbury points out that in rental terms roughly 60 per cent of the retail income has been secured already.
Preppy fashion brand Jack Wills has agreed a pre-letting on 136 Long Acre. The lease is for ten years at an initial rent of £532,000 pa has been agreed, subject to a rent review at the end of the fifth year and to a rent free period equivalent to twelve months.
Five of the 23 units are now pre-let, with H&M’s COS brand and Inditex’s Massimo Dutti opening flagship stores on Long Acre, soon to be joined by other national and international brands including Banana Republic and the Spanish fashion retailer Hoss Intropia.
Thomas Davidson and Cushman & Wakefield are letting agents.
