Rents on Oxford Street could rise as much as 40 per cent after a Spanish retailer agreed to a
record lease on London's busiest shopping street.
Desigual, a retailer selling men's and women's casualwear, exchanged contracts last week to occupy 360 Oxford Street opposite Bond Street tube station, paying a Zone A rent of just over £700 per sq ft, or £1.5m a year. Zone A rent is the cost for the prime section of a shop, closest to the windows. Desigual's rent is a substantial hike on the £540 Zone A rent that the outgoing tenant, Disney Store, paid to landlord Prupim. It is also much higher than the highest Zone A rent on the street, which is believed to be around £575.
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