Korine Property Partners and ASICS (UK) Ltd have exchanged contracts to enable the opening of a 7,000 sq Flagship store on London?s Oxford Street during the summer of 2012.
The three level store will anchor Korine's development of three shops at 527-533 Oxford Street, situated between South Audley Street and Marble Arch close to Primark.
Ciaran McDonnell, Managing Director of Developer, Korine Property Partners said "We are delighted to welcome ASICS as the anchor for our retail scheme. Their store is the perfect tenant to take advantage of our large format floor space and we are confident that it will prove to be a benchmark letting for this southern side of Oxford Street. The future opening of ASICS has already stimulated further interest in the two remaining shops adjacent where we can offer from 1,500 to 5,000 sq ft."
Toby Comerford, Partner at joint letting agent, Cushman & Wakefield, adds, "The leasing team has sought out international retailers that recognise the value of this location - the introduction of a new 80 ft wide, double height glazed frontage providing a total of 15,000 sq ft has significantly improved this southern section of the street and the opening of ASICS will further increase the appeal to other retailers."
Joint leasing agent Jonathan Eastwood, added "We expect this letting to strengthen this part of Oxford Street's appeal to occupiers and consumers, new lease opportunities such as 527 Oxford Street are rare within Central London not just Oxford Street. As a result we expect even more tenant demand now that we can announce this letting to ASICS."
Source: Cushman & Wakefield www.cushwake.com