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Commercial Property News
H&M leading London store race
H&M is the favourite to take over retail commercial property in Islington.
This is according to Property Week, which reported that the fashion chain is the frontrunner to take over a site vacated by Borders, which recently closed after falling into financial difficulty.
A total of 12 firms have submitted bids for the 20,000 sq ft business property, including River Island, Zara, Topshop and Whole Foods Market.
The store was purchased last from administrator of Borders MCR by landlord Delancey and the Metro Fund run by Land Securities last month.
Property Week noted that the deal could set a new record for zone-A rent in the central London borough.
H&M revealed better-than-expected financial results last month, which it said were partly attributable to the number of stores it opened in the past 12 months.
It saw its number of outlets rise by 250 over the course of the year and opened 159 in the fourth quarter.
This is according to Property Week, which reported that the fashion chain is the frontrunner to take over a site vacated by Borders, which recently closed after falling into financial difficulty.
A total of 12 firms have submitted bids for the 20,000 sq ft business property, including River Island, Zara, Topshop and Whole Foods Market.
The store was purchased last from administrator of Borders MCR by landlord Delancey and the Metro Fund run by Land Securities last month.
Property Week noted that the deal could set a new record for zone-A rent in the central London borough.
H&M revealed better-than-expected financial results last month, which it said were partly attributable to the number of stores it opened in the past 12 months.
It saw its number of outlets rise by 250 over the course of the year and opened 159 in the fourth quarter.
Fri, 5th Feb 2010