Luxury fashion brands Roberto Cavalli and Fendi are to swap their respective properties on Sloane Street, London, in a unique and complex property deal.
Cavalli is looking to upsize from its 2,800 sq ft of retail space of 184 Sloane Street and will move into Fendi’s 4,500 sq ft property across the road.
Meanwhile Fendi are more than happy to re-site to the smaller property which Cavalli currently uses, and launch a new concept store there.
Cadogan Estates has organised the deal, with the assistance of CB Richard Ellis (CBRE), and has arranged temporary stores for both retailers on the same street whilst the respective properties are redeveloped.
Ed Humbert, Senior Director of CBRE, said: “This is a unique deal which will enable Roberto Cavalli and Fendi to create flagship stores on the street in each brands favoured layout and further demonstrates Sloane Street’s status as one of London’s leading luxury streets.”
Fendi and Cavalli will occupy the temporary buildings for six months, with the new stores set to open in July 2011.
The importance of owning prime real estate in the UK’s capital was highlighted last month when a report showed that more money was spent on retail in London last year than anywhere else in the world.