Great Portland Estates lets retail space on Mount Royal

25th Jul 2024 10:25

(Sharecast News) - Property development firm Great Portland Estates has let 20,000 square feet of retail space at the western end of Mount Royal in West London.

Great Portland said on Thursday that immersive gaming business Activate, children's toy store Keikoo, and Italian restaurant Caffé Concerto had all signed new retail leases and will now join TK Maxx's 22,500 square foot Oxford Street flagship store.

The FTSE 250-listed firm said Activate and Caffé Concerto had both signed 15-year leases, while Keikoo had inked a 10-year lease.

GPE added that the three new retail units will open in 2025, shortly after TK Maxx's flagship location opens later in 2024.

Sarah Goldman, Great Portland's head of retail, said: "We have now secured new lettings on almost 60% of the space available at Mount Royal, W1 to great brands who all have a long-term vision for the location. Having a diverse offer of retail brands at Mount Royal shows that we are committed to creating a true destination that will continue the much-needed retail revolution we are seeing on Oxford Street."

As of 1020 BST, Great Portland shares were down 0.89% at 335.0p.

Reporting by Iain Gilbert at Sharecast.com