REG - Great Portland Ests. - Retail brands take over 20,000sq ft at Mount Royal

Great Portland EstatesAnnouncement

25/07/2024 07:00

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RNS Number : 7368X  Great Portland Estates PLC  25 July 2024

 

 

 

 

 

25 July 2024

 

GPE announces trio of retail brands to take over 20,000 sq ft at Mount Royal,
W1

 

GPE has announced today it has let 20,000 sq ft of retail space at the western
end of Mount Royal, W1. Retail brands that have signed new leases include the
new immersive gaming brand, Activate (We Do Play); children's toy store,
Keikoo; and Italian restaurant brand, Caffé Concerto.

 

All three brands have signed new retail leases with GPE and will join TK
Maxx's 22,500 sq ft Oxford Street flagship, set to open later this year.

 

·      Activate has signed up on a new 15-year lease for its first new
London store at Mount Royal, 530 Oxford Street, W1. The Canadian based
family-friendly socialising concept has recently partnered with We Do Play, a
group of immersive leisure and hospitality businesses, including Flip Out, to
expand into the UK and Ireland.

·      Keikoo has signed a 10-year lease for its first toy store,
located at Mount Royal, 532-534 Oxford Street, W1. The brand will bring an
educational and experiential offer to all young children, offering live
product demonstrations and an exciting shop-fit-out.

·      Caffé Concerto, a well-renowned Italian restaurant brand has
signed for a 15-year lease at Mount Royal, 536-540 Oxford Street, W1. The
brand has over 20 stores in the UK already and its latest opening will follow
its other successful locations in London including Regent Street, Covent
Garden and Piccadilly.

 

The three new retail units will open in 2025 shortly after TK Maxx will open
its 22,500 sq ft store later this year, following the brand's recent
commitment to take its second Oxford Street flagship at Mount Royal; alongside
Superdrug regearing its retail lease for their 8,000 sq ft store also at Mount
Royal.

 

Sarah Goldman, Head of Retail at GPE, commented: "We are thrilled that these
three brands have all committed to new leases with us. Combined with TK Maxx
completing and the associated regear of Superdrug, we have now secured new
lettings on almost 60% of the space available at Mount Royal, W1 to great
brands who all have a long-term vision for the location. Having a diverse
offer of retail brands at Mount Royal shows that we are committed to creating
a true destination that will continue the much-needed retail revolution we are
seeing on Oxford Street."

 

Richard Beese, co-owner of We Do Play, added: "We are committed to providing a
diverse leisure offer that provides our customers with something unique when
it comes to entertainment experiences. As the capital, central London has long
been on our list for Activate Games' expansion journey, and we're excited to
be working with GPE to bring our offer to the heart of Oxford Street. This
store marks a huge milestone to date and we're excited to welcome all new
guests very soon."

 Great Portland Estates plc                                                                                                                                                                                +44  (0)  20  7647   3000
 Toby Courtauld, Chief Executive
 Nick Sanderson, Chief Financial & Operating Officer
 Stephen Burrows, Director of Financial Reporting & IR

 Sarah Goldman, Head of Retail

 Yasemin Kiani, Communications Lead

 FGS Global
 James                                                                                                                                                                                                     +44  (0)  20  7251  3801
 Murgatroyd
 Gordon
 Simpson

 

For further information see www.gpe.co.uk or follow us on X at @GPE_London

LEI Number: 213800JMEDD2Q4N1MC42

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