Great Portland Estates PLC Hanover Square lettings update (9144L)

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RNS Number : 9144L

Great Portland Estates PLC

16 September 2021

Press Release

16 September 2021

GPE secures two further retail lettings at Hanover Square, W1

The GHS Limited Partnership (GHS), one of Great Portland Estates plc's (GPE) joint ventures, announces that it has let two retail stores at its recently completed development at Hanover Square, W1. The first is a 6,000 sq ft flagship store over three floors at 70/71 New Bond Street to Pronovias, the leading global bridal brand, that will showcase Pronovias wedding gowns, including the new Vera Wang Bride, launching globally this month. The second is at 1 Tenterden Street, which has been let to Moyses Stevens, the only florist to hold a Royal Warrant.

Pronovias has signed a new 10-year lease and are relocating from their existing Bond Street store.

Moyses Stevens has also signed a 10-year lease on a prominent corner site, adjacent to the new Bond Street West Elizabeth line entrance. The unit comprises 400 sq ft, all at ground floor.

Both units form part of the world-class Hanover Square mixed-use development providing 167,200 sq ft of Grade A offices, 33,500 sq ft of retail predominately fronting New Bond Street, an 8,300 sq ft restaurant and six residential apartments totalling 12,200 sq ft. Pronovias and Moyses Stevens will join existing retailer Canali and restaurant The Maine, Mayfair, whilst Glencore, KKR and The London Fashion Academy have collectively contributed to more than 95% of the office space.

Sarah Goldman, Senior Portfolio Manager at GPE commented: "Both Pronovias and Moyses Steven's are pioneers and market leaders in their respective industries. We are delighted that Pronovias are relocating from their current store in New Bond Street to our exceptional development, and that Moyses Stevens see the huge potential this location can offer. We are encouraged by the level of occupier interest in the remaining space."

Zrino Aladrovic Pronovias Property Director said: " Pronovias is excited to acquire this prominent location for their Bond Street flagship store and be part of such a prestigious development. The superior quality of this retail accommodation will allow Pronovias to showcase its exquisite collections, including our new line Vera Wang Bride."

Spale Marcinko, Owner of Moyses Stevens said: " We are delighted that Hanover will be the location for Moyses Stevens sixth store. Quality, great service and a continued dedication to excellence are attributes that both we and GPE share and Hanover is testament to that."

 
 Contacts: 
 Great Portland Estates plc                  [phone] 
 Toby Courtauld, Chief Executive 
 Sarah Goldman, Senior Portfolio Director 
 Stephen Burrows, Director of Financial 
  Reporting and IR 
 
 Finsbury Group                              [phone] 
 James Murgatroyd 
 Gordon Simpson 
 

About Pronovias

Pronovias are one of the most successful and respected bridal companies in the world, with huge international reach. Whilst the company's origins can be traced back to 'El Suizo', a prestigious family run Barcelona store founded in 1922, Pronovias was founded in 1964 when the company pioneered the creation of the first prêt-à-porter bridal fashion, a revolution at the time, which made wedding dresses accessible to all women. The company started internationalising in 1977, pioneering the franchise business and opening the first store of this kind in the Netherlands before moving into North America and Asia during the nineties. Today they are owned by BC Partners and has an extensive distribution network, with more than 4,000 points of sale in more than 105 countries, including flagships in New York, Los Angeles, Paris and Milan. Most recently, Vera Wang has agreed a 10-year licensing deal with Pronovias to manufacture, distribute and market Vera Wang Bride and will feature in only four locations globally, of which Hanover will be the only one in the UK.

About Moyses Stevens

Established in 1876, Moyses Stevens are famed for introducing the hand tied bouquet. Over the years they have held the Royal warrant for Her Late Majesty Queen Elizabeth The Queen Mother and currently hold the Royal Warrant by the appointment of HRH The Prince of Wales - the only florist to do so. Moyses Stevens delivers on the same day to any area of London whenever an order is received by 3pm. Their shops receive deliveries directly from Holland and various British growers Monday to Saturday; thereby cutting out any middlemen and ensuring everlasting freshness and great stock quantity throughout the group. They currently trade from five locations, having most recently opened in Selfridges and Battersea.

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September 16, 2021 01:59 ET (05:59 GMT)