NEWS ON NEW BOND STREET: There is no stopping the fashion momentum on New Bond Street, which is already the most expensive shopping thoroughfare in Europe and the third most expensive worldwide, after Hong Kong’s Causeway Bay and upper Fifth Avenue in Manhattan.
Trophaeum Asset Management, which owns most of Albemarle Street, other properties on Bond Street and chunks of prime space around London, said it purchased a 15,000-square-feet retail block on New Bond from a firm controlled by the banker Joseph Safra.
Trophaeum paid 130 million pounds for the building, which currently houses Halcyon Gallery on the ground floor, and “the location has great potential for a future fashion maison,” said Matt Farrell, managing director at Trophaeum. “The Halcyon Gallery is situated in what has become the new prime pitch on Bond Street for luxury fashion brands.”
Farrell added that Trophaeum was “very keen to acquire the building, regardless of the chaos related to Brexit,” and made its move in response to increased investor appetite.
As reported, Versace is set to open a unit in what is now the Bally flagship, on the corner of New Bond Street and Maddox Street. The new London store, which will open later this year, will span 7,244 square feet, and
Trophaeum Asset Management, which owns most of Albemarle Street, other properties on Bond Street and chunks of prime space around London, said it purchased a 15,000-square-feet retail block on New Bond from a firm controlled by the banker Joseph Safra.
Trophaeum paid 130 million pounds for the building, which currently houses Halcyon Gallery on the ground floor, and “the location has great potential for a future fashion maison,” said Matt Farrell, managing director at Trophaeum. “The Halcyon Gallery is situated in what has become the new prime pitch on Bond Street for luxury fashion brands.”
Farrell added that Trophaeum was “very keen to acquire the building, regardless of the chaos related to Brexit,” and made its move in response to increased investor appetite.
As reported, Versace is set to open a unit in what is now the Bally flagship, on the corner of New Bond Street and Maddox Street. The new London store, which will open later this year, will span 7,244 square feet, and
Follow WWD on Twitter or become a fan on Facebook.