Herno to debut in UK on Bond Street at record rent
today Oct 24, 2018
The newly-upgraded Bond Street has just signed another tenant with high-end Italian outdoor-wear brand Herno set to make its UK standalone debut at 31 Old Bond Street, agent Savills said on Wednesday.
The opening will follow the brand’s recent store openings in Paris and Milan and will see it occupying 3,000 sq ft (279 sq m) of space set over four floors. Herno will pay a rent of £1.2 million per annum, which is a record on Bond Street outside of the street’s famous ‘jewellery quarter’.
Bond Street last week announced the completion of a £10 million revamp that polished up its outdoor spaces and that upgrade, combined with the street being a key destination for high-spending tourists, has led to a succession of openings in recent months.
And the pace isn’t slowing down in late 2018 and early 2019 either with recent high-profile deals including Richard Mille acquiring the former Alexander McQueen shop at 4/5 Old Bond Street as well as A. Lange & Söhne and Michael Kors taking stores at number 38 and number 9 respectively.
Anthony Selwyn, head of London & International retail at Savills, said: “Bond Street remains one of the key ultra-prime global locations and these recent deals demonstrate how important strategically Bond Street is within a brand’s masterplan. The luxury sector within the retail world continues to perform strongly, supported by consumer spend globally.”
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