439 - 451 Oxford Street
Our client purchased this prime block opposite Selfridges for £125 million and challenged C&W to take immediate steps to transform the block by replacing the low quality brands in situ. We were tasked with delivering top quality international brands and achieve a step change in rents - +20% on current levels.
Step 1: Using our detailed knowledge of international retail brand requirements, we approached key decision makers direct and agreed terms with Omega for a 4,500 sq ft London flagship.
Step 2: With Omega legally committed, we widened our approaches and knowledge of lease structures nearby to identify premium UK bran, Arum for their Watches of Switzerland brand – they signed for 7,500 sq ft to include a VIP boutique area within a store selling Rolex, Patek Philippe etc.
Step 3: Over a period of 12 month, further lettings have been agreed to Danish footwear brand, Ecco and a further International brand. Two units remain with significant interest in both.
Only 14 months from purchase, the rent roll will have increased from £3.8m to over £9.0m leading to a significant increase in capital investment value.