Printed
December 6, 2024
Working with worldwide actual property advisor Savills, it has signed a five-year lease with landlord HIH Make investments Neal Road Restricted (suggested by Cushman & Wakefield) to maneuver right into a former Mango retailer.
British on-line pureplay style retailers have already been battered by the onslaught of Chinese language quick style and it seems to be like the identical might occur bodily as City Revivo goals to open a number of UK areas.
For its first retailer, the area is organized over basement, floor, and first flooring, and covers 5,300 sq ft.
City Revivo — which targets an identical buyer to manufacturers resembling Zara, Mango and H&M — has shops in its home market in addition to in Singapore, Thailand and the Philippines.
With its UK debut, it will likely be becoming a member of a set of recent retailers on Neal Road resembling Alo Yoga, Onitsuka Tiger, Brandy Melville, Barbour, House NK and No person’s Youngster. Former tenant Mango has relocated shut by.
Covent Backyard is seeing a surge in occupier demand, “following renewed focus of the dominant retail and leisure landlord Shaftesbury Capital to bring Seven Dials and the Covent Garden Piazza under a single stewardship”. This has resulted in 25 new retail openings in 2024 and fewer than 1% availability.
The 18-year-old City Revivo model is concentrating on worldwide development and “plans to open flagship stores that not only showcase its fashion collections but also provide a distinctive and engaging in-store experience”.
It additionally lately signed for its first US retailer. Suggested by Savills and RIPCO Actual Property, the 30,000 sq ft retailer is in New York Metropolis at 515 Broadway in SoHo.
Sam Foyle, co-head of worldwide retail at Savills stated the model is “pioneering in its fit-out designs and concepts, which is evident in its store portfolio across the APAC region”, so its Covent Backyard arrival will probably be undeniably fascinating.
And Callum White, affiliate in central London retail at Savills, added: “Neal Street is a well-sought after location and presents an exciting opportunity for Urban Revivo’s first of many stores in the country. This vibrant area is known for its bustling atmosphere and prime retail spaces, making it the perfect spot for the brand to introduce its designs and concepts to the UK market.”
