Bond Street House

— London, UK

Portfolio Project

Acquisition date:

May 2014

Asset type:

Retail & Office

Square metres:

2700 sq. m.

Key occupants:

Patek Philippe, Kiton, de Grisogono

New Bond Street is recognised as one of the world’s most famous luxury destinations.

Bond Street is one of the most expensive retail streets in the world, attracting luxury brands including Louis Vuitton, Chanel, Dior and Hermès, all of whose flagship stores are clustered in the block next to the property.

This investment was a rare opportunity to acquire an entire building on a prime pitch of this prized shopping destination. Located at the pedestrianized intersection of New Bond Street and Old Bond Street, the property’s ground and first floor retail units are leased to bespoke Italian tailor Kiton and two designer watchmaker-jewellers, while the upper floors are in office use.

De Grisogono took up the lease to the store vacated by former tenant Georg Jensen, setting a new benchmark rent for Bond Street at the time that reflects the considerable appeal of the location for leading luxury brands.

Properties at this location are in great demand from investors and retailers because of the halo effect of these world-renowned brands. We are extremely pleased to be able to have secured Bond Street House in an off-market transaction. We target properties that require creative asset management to unlock their full potential.

Eric van Duren, Chief Investment Officer