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Zara Signs for Oxford Street Flagship Store

LONDON-Spanish fashion retailer Zara has signed a deal with Development Securities to take a 35,000-sq flagship store in DevSecs' development at 333 Oxford Street, on the corner of Oxford Street and New Bond Street in London's West End.

By Graham Parker | Updated on May 28, 2002

LONDON-Spanish fashion retailer Zara–part of the Inditex Group–has signed an agreement with Development Securities to pre-let 35,000 sf at 333 Oxford Street, at the junction of Oxford Street and New Bond Street. Zara is taking a 20 year lease at £2.75 million ($4 million) per annum, which includes a 12 month rent free period.

Development Securities bought this prime development site from Sears Group Properties for £38 million ($55 million) in September 2000 and the 78,000-sf mixed-use development been forward funded with DEKA Immobilien Investment, the German investment fund.

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