Apostrophe arrives at Derwent's Baker Street scheme
10 Jun 2008
Derwent London and The Portman Estate are pleased to announce that their joint venture company, Portman Investments (Baker Street) Ltd, has let the retail unit at 19 Baker Street, to Apostrophe, which opened for business on 19th May 2008. Popular French-style café chain, Apostrophe, has taken a unit comprising 2,908 sq ft, fronting the ground floor of the Baker Street development on the corner meeting George Street. It has taken the retail premises on a new 15-year lease, at a headline rent of £80,000 per annum.
19-35 Baker Street comprises a 7-storey mixed-use scheme, combining 71,125 sq ft of office space with 20,506 sq ft of retail space. Other occupiers at the building include House of Fraser, Misura Emme and Hulsta.
Through the joint venture, this Baker Street property forms an important part of Derwent’s growing Marylebone portfolio and reflects its core strategy to extend its presence in the villages immediately surrounding London’s West End.
Amir Chen, Managing Director of Apostrophe, comments: “We are strong believers in the regeneration of this area of Baker Street. With an already large and growing business community, an affluent residential population and significant tourist footfall, this area has a lot going for it. With floor-to-ceiling windows looking out onto Baker Street and George Street and a large outdoor seating area, the unit benefits from great natural light to create a spacious feel. Additionally, combined with Apostrophe’s signature showcase furniture and innovative design features, such as a light box encasing its ovens and a raised seating area with a walnut canopy, it creates dynamic space that will attract customers at all times of the day and in all moods.”
Simon Silver, Head of Development, Derwent London, comments: “Apostrophe complements our existing tenant mix and presents the perfect fit for this unique and vibrant area of the West End, bordering Mayfair. We are working with the brightest talents to help reshape and regenerate central London, creating desirable spaces to work and live in, as people’s focus continues to shift towards village areas encircling the traditional core West End and City markets.”
The launch of this unit represents Apostrophe’s 14th store opening, in and around London, since its foundation in 2001. Other existing branches include those on Regent Street, Grosvenor Street, Tottenham Court Road, St Christopher’s Place and The Strand, as well as at Heathrow Terminal 5.
The Portman Estate and Derwent were advised by Capital Retail; Ian Scott International acted for Apostrophe.