Disney's rent rises on Oxford Street to £2.5m a year
Sunday 12 June 2011
Another high rent for Oxford Street has been set for the property that houses Disney's flagship UK store.
The overseas-based landlord of 350 Oxford Street has won a rent review arbitration to charge 30 per cent more for the store – taking it to £2.5m a year.
The landlord, advised by the Nash Bond, has argued that due to other rent agreements set on the street Disney should pay £660 per sqft for the most expensive part of the store, known as Zone A.
The Disney deal follows a top rent agreed earlier this year by the Aldo shoe retailer. It agreed to pay £725 per sqft for Zone A space at 309 Oxford Street. Before this, Desigual, the Spanish fashion chain, agreed to pay £710 for Zone A space for the former Oxford St Disney store. The new Disney store is one of a new breed, planned to resemble Apple stores with interactive technology in store.
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