(LONDON) – Hines, the international real estate firm, has launched the retail space available to lease in the flagship new store it is developing on the north side of Oxford Street, located above the Bond Street Underground station, in the heart of London’s West End.
Oxbourne House (354 Oxford Street) will comprise over 5,000 square feet of best-in-class retail space across the basement, ground and first floors, with the detached building providing a stunning 25 meters of double height frontage in a prominent position in the busiest shopping street in Europe. Bond Street station is one of the main Elizabeth line stations and footfall is expected to significantly increase in this location when the line opens in 2021.
Hines acquired the development site from Transport for London (TfL) earlier this year on behalf of the Hines European Value Fund and is creating a high-quality residential accommodation across the four upper floors. Totalling 11 apartments of one to three bedrooms, the residential units have already been leased to Portland Brown, the global corporate housing provider, who have signed a 15-year lease.
Leading real estate advisers Colliers International and Savills are supporting Hines in selecting a prime retailer to lease the space. The retailer will join the world’s largest cluster of iconic stores and global brands on an internationally famous street with the highest footfall in Europe.
Emme Haycock, asset manager, Hines UK, said: “Oxford Street is one of the most iconic, popular streets in London, visited by over 4 million people each week. It’s rare for a brand-new retail development to arrive on the street so this represents a unique shop window in an unparalleled location alongside the world’s biggest shops and brands.
“Oxford Street never stands still and is currently undergoing a transformation with heavy investment to upgrade public realm and create more pedestrian space. We’re proud to be part of this evolution and believe Oxbourne House represents a fantastic addition to the street which fully merits the prestigious address.”
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 219 cities in 23 countries. Hines has approximately $124.3 billion of assets under management, including $63.8 billion for which Hines provides fiduciary investment management services, and $60.5 billion for which Hines provides third-party property-level services. The firm has 148 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,362 properties, totaling over 449 million square feet. The firm’s current property and asset management portfolio includes 514 properties, representing over 222 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
Since entering Europe in 1991, Hines has grown its European platform to include offices in 16 cities as well as a presence in 47 cities in 12 countries, with €18.2 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Poland, Spain and the United Kingdom.