Great Portland secures flagship tenant for Oxford Street development

Great Portland Estates has leased part of its Oxford Street development to fashion retailer Reserved Clothing, the property firm confirmed on Thursday.

The retailer has taken 19,645 sq ft over the ground and first floors at GPE’s development at 70/88 Oxford Street, with the flagship store due to open in 2023.

GPE said that the development was now 96% let or under offer, with fellow landmark tenant Boom: Battle Bar - owned by XP Factory - set to open before Christmas.

Sarah Goldman, senior portfolio manager at GPE, said: “[Reserved] complements our wider West End offering with experiential adventure bar Boom: Battle Bar. Together both brands will help create a day-to-night destination on the doorstep of the Elizabeth line station at Tottenham Court Road.”

Poland’s Reserved, which is owned by European clothing manufacturer LPP, first launched in the UK in 2017.

Krzysztof Bocianowski, leasing and expansion director of LPP, said the store would boost its UK profile, adding: “Following a number of challenging years for London and retail in general, we are committed to growth our business in the UK and this will form a new phase of growth.

“Our UK business is showing great potential.”

GPE said there was now just one ground floor retail unit of 2,300sq ft still available in the development.