American lifestyle fashion retailer Gant has confirmed it will move in to a brand new flagship store on London's Regent Street after signing a 10-year lease with The Crown Estate.
Currently located at 185-191 Regent Street – one of the world's premier fashion retail destinations – where it has been based since 2005, Gant will move into the new, 7800 sq ft premises directly opposite to the existing store in autumn of year.
Formerly the home of luxury fashion retailer Hugo Boss, 184-186 Regent Street spans two floors – a ground floor and a basement floor – and is located next to Hamleys, the new Kate Spade and rthe new 15,000 sq ft Hugo Boss stores.
International retail property agency CWM secured a substantial premium for Gant as it surrendered its existing lease back to The Crown Estate. The Retail Gazette understands that this premium is rumoured to be close to £5 million.
CWM also advised Gant on the £1 million per year lease for the new store, which will stock the brand's full product range.
“We’re pleased we were able to secure a new lease for Gant as well as a substantial premium for surrendering its existing lease back to The Crown Estate," CWM managing partner Scott Murdoch said.
"The new store is in a better location on Regent Street and well positioned to service the high volume of shoppers passing by.”
Gant has 14 standalone stores across the UK, with six of these in central London.