Grosvenor has acquired 8 Carlos Place, Mayfair, from Green Property Ventures. Grosvenor has simultaneously completed a new 15 year lease with the luxury fashion brand Roland Mouret, whose flagship store has been located at 8 Carlos Place since 2010.
8 Carlos Place is a Grade II listed, self-contained Edwardian mansion extending to 8,806 sq ft GIA (5,884 sq ft NIA). Adjacent to Mount Street, the asset is located in the heart of Mayfair’s luxury fashion district and on one of Grosvenor’s leading retail streets, opposite the entrance to the Connaught Hotel.
Commenting on the acquisition, Haydn Cooper, Location Director for Grosvenor’s Mayfair estate, said: “8 Carlos Place is a prime example of the ‘maison’ retail units that Carlos Place has become renowned for. It enables brands, like Roland Mouret, to create world-class flagship stores that give customers a unique brand experience, combining a showroom, private client and design space.”
Michael Tapp, Green Property Director said: “With Roland Mouret, we put the first retailer into Carlos Place five years ago. We are delighted to agree a new long term lease with them, now the street has become an established high end fashion destination. The sale to Grosvenor made perfect sense and reflects a yield of 3.25%, underlining the importance of this emerging retail pitch.”
Alongside Roland Mouret, brands on Carlos Place include fashion designer Jenny Packham, jewellers Solange Azagury-Partridge and Jessica McCormack and celebrity hairdresser Nicky Clarke.
More details about Carlos Place and the other retail streets on Grosvenor’s London estate can be found on the website: www.grosvenorlondon.com
Naomi Curtis/ Sorrel Basher
020 7312 6101 / 020 7312 6479
Grosvenor Britain & Ireland
Grosvenor Britain & Ireland aims to create value through its skills in place-making and design, repositioning locations in ways that change customer perceptions and deliver results for our stakeholders. We own and develop an exceptional range of properties and locations in Britain and Ireland through two business units: our London estate, responsible for assets across 300 acres of Mayfair and Belgravia, and Grosvenor Developments, responsible for all off-estate activity in Britain and Ireland. Both teams have a common goal: to create great places for people to live, work and visit. As at 31 December 2013, Grosvenor Britain & Ireland had assets under management of £5bn.