Upmarket British business wear retailer T.M.Lewin has appointed Cushman & Wakefield as asset manager and advisor for its nationwide portfolio of 78 UK stores.
The iconic brand was established in 1898 with a single retail unit in London’s Jermyn Street. It remained as a single shop until as recently as 1989 with the opening of its second unit in Lime Street in the heart of the City of London.
Since then, the company – which now sells suits, shoes, accessories and womenswear – has seen rapid expansion with stores through the UK and Northern Ireland as well as eight concessions in House of Fraser outlets. Four years ago it opened its first overseas store in Australia.
The brand is also credited with pioneering the ‘coat-shirt’ – the modern day front-buttoned shirt millions of people take for granted.
Cushman & Wakefield’s Retail team won a competitive pitch to manage the firm’s entire portfolio with responsibility for its future acquisitions, any potential disposals, delivering ratings advice as well as managing rent reviews and lease renewals.
Peter Mace, Cushman & Wakefield’s Head of Central London Retail, who headed up the successful bid team, said: “We’re delighted to have been instructed by such a well-known, premium brand as T.M. Lewin. The firm has undergone rapid expansion in recent years and intends to continue its upward trajectory. Cushman & Wakefield will be helping them throughout the process.”
T.M.Lewin Chief Executive, Geoff Quinn, said: “Having the right real estate strategy is critical to the ongoing success of our business. We look forward to working with Cushman & Wakefield.”