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.
Emergency landing at Heathrow sparks further controversy over London airport capacity
Unrest may spread across Europe, warns Red Cross chief
French government seeks to ban extreme right-wing group
BNP and EDL accused of attempt to fuel racial hatred after Woolwich terror attack
You want to get an Eton scholarship? All you need to do is answer four (not so simple) questions
- 1 What, let gays get married? We must be bonkers
- 2 'Something passed underneath us, quite close': Airbus A320 has close encounter with UFO
- 3 Rocky Horror star Tim Curry 'suffers major stroke'
- 4 Exclusive: How MI5 blackmails British Muslims
- 5 Lord of the Sings: Sir Christopher Lee, 91, to release heavy metal album
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.