Cadogan Estates - Retail Letting - London SW1, Sloane Square
Date: 14 Jan 2004
Cadogan completes major new lettings around Sloane square.
Having created an extension to Sloane Square around Duke of York Square, Cadogan Estates has undertaken a number of lettings that will further enhance the quality of the tenant mix in the area.
Fratelli Deli Café will shortly open a new café and delicatessen comprising 664 sq ft of ground floor and 802 sq ft in the basement space in Duke of York Square. This will add to the excellent catering offer within Duke of York‘s which is provided by Gelateria Valerie, Patisserie Valerie and Manicomio.
Opposite this shop, Cadogan has completed a letting to Suede. Suede is a new quality menswear operation which has been founded by the owners of Kate Kuba. The unit comprises a ground floor of 523 sq ft with a first floor of 207 sq ft. Suede is paying a rent equating to a Zone A of £174.
On the front of Duke of York’s, Cadogan has completed two major lettings of “run through” units which front both the Kings Road and Duke of York Square, and accordingly are almost identical to the impressive Ted Baker shop.
Gas, a leading Italian ladies fashion retailer, with a very similar product to Diesel, has taken the shop adjoining Ted Baker. And next to Gas, LK Bennett has taken a unit with an identical ground floor to Gas comprising 1,885 sq ft but with a larger basement of 2,105 sq ft. Both deals were done at rental levels approaching £300 Zone A.
L K Bennett already has three shops on the Kings Road but this will be their major flagship fashion store for the area.
Cadogan have also completed a letting of the ground floor of the Queripel Building at Duke of York Square to the famous local Grocer, Partridges, which will comprise a little over 7,773 sq ft. The company is paying a rent of about £300,000 per annum. As part of the transaction it will be surrendering its lease on the Sloane Street store at 132-135 Sloane Street. Cadogan will be offering these premises to the market late in 2004.
Cadogan has also improved the Sloane Square area with its superb Cadogan Mansions development on the corner of Sloane Square and Sloane Street formerly occupied by General Trading Company. Having already tied up flagship store lettings with Tiffany & Co, Pringle and Gianfranco Ferre, it has just completed lettings to Links of London, who will be taking a new store comprising just over 4,700 sq ft, at 16 Sloane Square. Links, a high class jeweller, is already on Sloane Street and as part of the transaction has agreed to surrender its existing interest at 160 Sloane Street. It should open in May of next year.
Also within this development Caramel Body & Child will open a shop comprising almost 1,100 sq ft at 259 Pavilion Road which is next door to the Heidi Klein store opening in Spring 2004. Caramel, a high-class children’s fashion retailer already has a shop in Brompton Cross. Caramel is paying a rent of £85,000 per annum exclusive for this shop.
Cameron Scott of CBRE, letting agents for Cadogan, said ”The demand for shops in the Sloane Square area remains strong which is a direct consequence of the critical mass of quality retail that now exists in the immediate surroundings, as a result of Cadogan’s pro-active management.
This certainly bodes well for future retail developments such as the Willet Building and 31 Sloane Square.”
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