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London Flagship Store Sells

CANNES-Flagship West End stores are worth a yield of 5%. Unnamed investors have paid 22 million-GBP ($31 million) for DKNY's Old Bond Street shop

By Charlie Jacoby | Updated on March 13, 2002

CANNES-Private overseas investors advised by CB Hillier Parker have acquired the freehold of the DKNY flagship store on Old Bond Street, in London’s West End in a deal announced at the MIPIM property show in Cannes, France. The prominent glass fronted store provides one of the premier retail units in the prime Bond Street pitch.

Redeveloped by the vendor MID UK in 1992, the retail element, with trading on the ground-to-third floors is let to DKNY, recently acquired by LVMH Louis Vuitton. The lease expires in 2020 with a passing rent equating to only £350 ($493) zone A. Prime Bond Street rents now in excess of £400 ($564) per sf zone A.

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