Shaftesbury signs Equinox for Carnaby development

Shaftesbury said it had agreed to let almost half of its 72 Broadwick Street refurbishment scheme to Equinox, the US fitness and lifestyle brand.

The London West End property investment trust said Equinox had agreed to occupy 32,000 sq ft of the development's 66,000 sq ft of commercial space. Equinox is scheduled to take over the accommodation for fitting by the end of 2020.

Shaftesbury said: "This transaction is a significant endorsement of both the scheme and Carnaby."

Shaftesbury said it had received encouraging interest in the remaining commercial space at 72 Broadwick Street, which is part of the company's portfolio in and around Carnaby Street. Westminster City council gave planning permission for the £32m refurbishment of the 1970s building in June.

The commercial accommodation will be ready in phases between late 2020 and early 2021. The scheme will also house 15 flats that Shaftesbury expects to let in early 2021.