American womenswear brand Michael Kors has secured a 2,523 square foot store in Covent Garden, London, to add to its five other stores in the UK, including shops on Regent Street and in Westfield London.
The brand signed a deal with Lothbury Investment Management on behalf of Lothbury Property Trust for a 10-year lease on 28 James Street, and is hoping to open the new store later this year in time for Christmas.
Michael Kors piped four other retailers to the store and will pay around 733 Pounds per square feet over the ten years.
Mike Toft, senior fund manager and director of Lothbury Investment Management, said: “The Covent Garden units are one of the key assets in our portfolio and there was considerable competition for the lease, attracting a shortlist of four retailers.
“Michael Kors is a perfect fit for this address and is in line with our policy of attracting high quality names to the prestigious properties in the Lothbury portfolio.”