Savills has helped JD Sports secure retail premises at 75 Davies Street / 375-381 Oxford Street for a major new store.
The retailer has agreed to take a new 10-year lease for the 23,000 sq ft (2,137 sq m) property owned by Norges Bank Investment Management. It will pay an annual rent of £3.1 million.
In 2014, Savills also acquired a 34,500 sq ft (3,205 sq m) store east of Oxford Circus for JD Sports at 201-203 Oxford Street. The new deal means the retailer, which exited a smaller second unit on the street earlier this year due to the future redevelopment of the building, now has a major store on both east and west Oxford Street.
Sam Foyle, Oxford Street specialist at Savills, comments: “This property is ideally positioned to complement our client’s existing store on east Oxford Street and ensure JD Sports can maximise the benefits of future footfall increases linked to Crossrail and other infrastructure improvements.”
The landlord represented by Nash Bond.
Source: Savills savills.co.uk